Norinchukin Bank The Has $2.71 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Key Points

• Norinchukin Bank increased its stake in Warner Bros. Discovery by 42.6%, acquiring an additional 75,462 shares, bringing its total to 252,727 shares valued at approximately $2.71 million.
• Several other institutional investors also raised their holdings in Warner Bros. Discovery during the first quarter, contributing to 59.95% of the company's stock being owned by such investors.
• Warner Bros. Discovery reported a quarterly revenue of $9.81 billion, exceeding analysts' expectations of $9.73 billion, and had an earnings per share of $0.63, well above the consensus estimate of a loss.

Norinchukin Bank The boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 42.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,727 shares of the company's stock after purchasing an additional 75,462 shares during the quarter. Norinchukin Bank The's holdings in Warner Bros. Discovery were worth $2,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. North Capital Inc. acquired a new position in Warner Bros. Discovery during the 1st quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Warner Bros. Discovery during the 1st quarter valued at $29,000. Ameriflex Group Inc. bought a new stake in Warner Bros. Discovery during the 4th quarter valued at $30,000. Finally, Golden State Wealth Management LLC raised its stake in Warner Bros. Discovery by 448.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,877 shares of the company's stock valued at $31,000 after acquiring an additional 2,352 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on WBD shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Morgan Stanley lifted their target price on Warner Bros. Discovery from $10.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their target price on Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, UBS Group lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

Warner Bros. Discovery Trading Down 2.0%

Shares of Warner Bros. Discovery stock traded down $0.24 on Tuesday, reaching $11.80. 57,911,792 shares of the company were exchanged, compared to its average volume of 46,805,746. The stock has a fifty day moving average price of $11.88 and a 200-day moving average price of $10.43. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 1.61 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.Warner Bros. Discovery's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.07) earnings per share. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity

In related news, Director Anton J. Levy bought 75,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $11.00 per share, with a total value of $825,000.00. Following the completion of the transaction, the director directly owned 949,000 shares of the company's stock, valued at approximately $10,439,000. This trade represents a 8.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.