Crossmark Global Holdings Inc. Raises Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crossmark Global Holdings Inc. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 77.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,027 shares of the company's stock after purchasing an additional 96,545 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Warner Bros. Discovery were worth $2,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Colonial Trust Advisors grew its stake in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after acquiring an additional 996 shares during the period. Graney & King LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at $28,000. North Capital Inc. acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at $29,000. Finally, Ameriflex Group Inc. acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Barclays raised 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. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Citigroup decreased their price objective 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. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Finally, Bank of America raised their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Twelve 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 stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Stock Up 0.7%

Shares of Warner Bros. Discovery stock traded up $0.08 on Friday, reaching $11.73. 70,357,511 shares of the company were exchanged, compared to its average volume of 37,051,351. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market cap of $28.79 billion, a P/E ratio of -2.67 and a beta of 1.54. 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 stock's 50 day moving average price is $10.07 and its 200-day moving average price is $9.96.

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