Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,152,673 shares of the company's stock after purchasing an additional 44,442 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Warner Bros. Discovery worth $55,288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Colonial Trust Advisors grew its position in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after buying an additional 1,940 shares during the last quarter. Graney & King LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $28,000. Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at $29,000. Finally, Briaud Financial Planning Inc increased its stake in shares of Warner Bros. Discovery by 258.1% in the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WBD shares. Bank of America upped their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday. Raymond James Financial dropped their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Barclays lifted their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Finally, Morgan Stanley cut their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.33.

Warner Bros. Discovery Stock Up 0.8%

Shares of NASDAQ WBD traded up $0.09 during midday trading on Friday, hitting $11.21. The company's stock had a trading volume of 24,154,256 shares, compared to its average volume of 36,356,643. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of -2.55 and a beta of 1.54. The business's fifty day simple moving average is $9.79 and its two-hundred day simple moving average is $9.93. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released 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). The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. Warner Bros. Discovery's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) earnings per share. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.