Quintet Private Bank Europe S.A. Has $2.97 Million Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Quintet Private Bank Europe S.A. reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 14.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 276,813 shares of the company's stock after selling 45,108 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Warner Bros. Discovery were worth $2,970,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Parkside Investments LLC boosted its position in Warner Bros. Discovery by 32.7% in the first quarter. Parkside Investments LLC now owns 345,654 shares of the company's stock valued at $3,709,000 after buying an additional 85,160 shares in the last quarter. Fifth Third Bancorp boosted its position in Warner Bros. Discovery by 17.9% in the first quarter. Fifth Third Bancorp now owns 77,801 shares of the company's stock valued at $835,000 after buying an additional 11,793 shares in the last quarter. Simon Quick Advisors LLC boosted its position in Warner Bros. Discovery by 44.1% in the first quarter. Simon Quick Advisors LLC now owns 18,689 shares of the company's stock valued at $201,000 after buying an additional 5,722 shares in the last quarter. CX Institutional boosted its position in Warner Bros. Discovery by 5.7% in the first quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after buying an additional 1,465 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Warner Bros. Discovery by 72.5% in the first quarter. Assenagon Asset Management S.A. now owns 2,271,894 shares of the company's stock valued at $24,377,000 after buying an additional 954,648 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBD has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. KeyCorp dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday. Eleven research 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 company's stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average price target of $12.17.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.13 on Friday, reaching $10.03. 39,377,883 shares of the company's stock were exchanged, compared to its average volume of 34,700,413. The company has a fifty day moving average of $8.99 and a 200-day moving average of $9.94. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of -2.19, a PEG ratio of 8.64 and a beta of 1.51. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its 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). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the previous year, the company earned ($0.40) EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.