Oppenheimer & Co. Inc. Increases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 19.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 347,208 shares of the company's stock after acquiring an additional 57,023 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Warner Bros. Discovery were worth $3,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Prudential PLC lifted its position in shares of Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock worth $1,429,000 after purchasing an additional 32,102 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Warner Bros. Discovery during the fourth quarter worth $4,914,000. SVB Wealth LLC bought a new stake in Warner Bros. Discovery during the 4th quarter valued at $168,000. Polar Asset Management Partners Inc. purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at $3,022,000. Finally, Natixis Advisors LLC raised its position in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after acquiring an additional 10,024 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 0.3%

Warner Bros. Discovery stock opened at $10.87 on Thursday. The stock has a 50-day moving average price of $9.37 and a 200 day moving average price of $9.95. The company has a market capitalization of $26.68 billion, a price-to-earnings ratio of -2.47 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.40) earnings per share. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Raymond James Financial decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. KeyCorp cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $12.17.

About Warner Bros. Discovery

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.

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