Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 18.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 785,901 shares of the company's stock after buying an additional 120,581 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Warner Bros. Discovery were worth $8,150,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WBD. Brighton Jones LLC raised its position in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after purchasing an additional 51,920 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $794,000. QRG Capital Management Inc. acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at $121,000. SVB Wealth LLC bought a new position in Warner Bros. Discovery during the 4th quarter valued at $168,000. Finally, Metis Global Partners LLC boosted its stake in Warner Bros. Discovery by 52.9% during the 4th quarter. Metis Global Partners LLC now owns 110,878 shares of the company's stock valued at $1,172,000 after acquiring an additional 38,384 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. 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. Morgan Stanley lowered their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, KeyCorp decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.17.

Warner Bros. Discovery Stock Performance

WBD opened at $11.46 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The business's 50 day moving average is $9.57 and its 200-day moving average is $9.93. The stock has a market cap of $28.13 billion, a PE ratio of -2.60 and a beta of 1.51. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

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). 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 analyst estimates of $9.66 billion. During the same quarter in the prior year, the business earned ($0.40) earnings per share. The firm's revenue was down 9.8% compared to the same quarter last year. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.

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