Wakefield Asset Management LLLP purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 48,014 shares of the company's stock, valued at approximately $515,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. FMR LLC increased its position 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 acquiring an additional 11,810,191 shares in the last quarter. Slate Path Capital LP increased its position 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 acquiring an additional 6,381,000 shares in the last quarter. KBC Group NV increased its position 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 acquiring an additional 6,232,561 shares in the last quarter. Finally, Sachem Head Capital Management LP acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $64,847,000. 59.95% of the stock is owned by institutional investors.
Warner Bros. Discovery Stock Up 1.4%
WBD traded up $0.19 during trading on Thursday, reaching $13.50. The company had a trading volume of 127,459,085 shares, compared to its average volume of 70,161,552. 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 $13.68. The business's fifty day moving average price is $10.67 and its 200 day moving average price is $10.08. The company has a market cap of $33.14 billion, a P/E ratio of -3.07 and a beta of 1.54.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the firm posted ($0.40) EPS. The business's quarterly revenue was down 9.8% compared to the same quarter last year. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently commented on WBD. Wells Fargo & Company lifted their price target on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Barclays lifted their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Bank of America lifted their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Finally, Raymond James Financial lowered 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 report on Friday, April 4th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.41.
Get Our Latest Stock Report on Warner Bros. Discovery
Warner Bros. Discovery Profile
(
Free Report)
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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