Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Holdings Raised by KBC Group NV

KBC Group NV raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 682.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 7,145,308 shares of the company's stock after purchasing an additional 6,232,561 shares during the period. KBC Group NV owned 0.29% of Warner Bros. Discovery worth $76,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Warner Bros. Discovery by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,152,673 shares of the company's stock worth $55,288,000 after purchasing an additional 44,442 shares during the last quarter. Tsfg LLC increased its position in shares of Warner Bros. Discovery by 143.5% in the 1st quarter. Tsfg LLC now owns 3,451 shares of the company's stock worth $37,000 after purchasing an additional 2,034 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Warner Bros. Discovery by 18.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 785,901 shares of the company's stock valued at $8,150,000 after buying an additional 120,581 shares during the period. Achmea Investment Management B.V. boosted its holdings in shares of Warner Bros. Discovery by 42.5% in the 1st quarter. Achmea Investment Management B.V. now owns 268,359 shares of the company's stock valued at $2,880,000 after buying an additional 80,059 shares during the period. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Warner Bros. Discovery by 9.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock valued at $202,000 after buying an additional 1,561 shares during the period. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Citigroup decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Raymond James Financial decreased 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 report on Friday, April 4th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Monday, June 9th. Finally, 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 report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.17.

Warner Bros. Discovery Trading Up 1.3%

Shares of NASDAQ:WBD opened at $11.30 on Friday. The company has a 50 day moving average of $9.50 and a 200-day moving average of $9.95. The firm has a market cap of $27.74 billion, a P/E ratio of -2.57 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. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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). The company had revenue of $8.98 billion during 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%. The company's revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) earnings per share. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.

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