Skandinaviska Enskilda Banken AB publ Purchases 23,000 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Skandinaviska Enskilda Banken AB publ has increased its stake in Warner Bros. Discovery, Inc. to 477,417 shares, valued at approximately $5.12 million, after purchasing an additional 23,000 shares in Q1.
• Analysts have mixed recommendations for Warner Bros. Discovery, with ratings ranging from "overweight" to "hold," and an average price target of $12.41.
• The company reported a quarterly loss of ($0.18) EPS, missing analysts' expectations and experiencing a 9.8% revenue decline year-over-year.

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477,417 shares of the company's stock after acquiring an additional 23,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Warner Bros. Discovery were worth $5,118,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WBD. Norges Bank acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $362,210,000. FMR LLC grew its holdings in Warner Bros. Discovery by 478.5% in the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after buying an additional 11,810,191 shares in the last quarter. Slate Path Capital LP grew its holdings in Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after buying an additional 6,381,000 shares in the last quarter. KBC Group NV grew its holdings in Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after buying an additional 6,232,561 shares in the last quarter. Finally, Sachem Head Capital Management LP acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $64,847,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of WBD stock traded up $0.21 on Monday, hitting $13.70. 97,024,778 shares of the company's stock were exchanged, compared to its average volume of 72,306,728. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.87. The stock has a market cap of $33.63 billion, a P/E ratio of -3.11 and a beta of 1.54. The company has a 50 day moving average of $10.85 and a 200 day moving average of $10.12.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WBD. Barclays upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Citigroup reduced their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. UBS Group increased their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Raymond James Financial reduced their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Benchmark reissued a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Monday, July 14th. Twelve equities 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.41.

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.