IFM Investors Pty Ltd Boosts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

IFM Investors Pty Ltd boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 456,682 shares of the company's stock after acquiring an additional 34,644 shares during the quarter. IFM Investors Pty Ltd's holdings in Warner Bros. Discovery were worth $4,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock valued at $2,670,519,000 after acquiring an additional 1,658,415 shares during the period. Geode Capital Management LLC boosted its stake in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock valued at $605,633,000 after buying an additional 1,991,441 shares during the period. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. Slate Path Capital LP boosted its stake in shares of 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 during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Warner Bros. Discovery by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after buying an additional 1,725,775 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.16 during trading on Thursday, reaching $11.65. The company's stock had a trading volume of 42,459,872 shares, compared to its average volume of 36,709,555. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market capitalization of $28.60 billion, a P/E ratio of -2.65 and a beta of 1.54. The business has a 50 day moving average price of $9.94 and a 200-day moving average price of $9.95.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted 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 business had revenue of $8.98 billion during the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter last year, the firm earned ($0.40) earnings per share. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WBD. Bank of America lifted their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. UBS Group raised their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wells Fargo & Company raised their target price on 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 raised their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Morgan Stanley cut their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Company 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.