Warner Bros. Discovery, Inc. $WBD Stock Holdings Lifted by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,616,949 shares of the company's stock after buying an additional 2,980,900 shares during the period. Bank of America Corp DE owned 0.66% of Warner Bros. Discovery worth $456,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBD. Oddo BHF Asset Management Sas increased its stake in shares of Warner Bros. Discovery by 53.8% in the first quarter. Oddo BHF Asset Management Sas now owns 1,000,000 shares of the company's stock valued at $27,460,000 after purchasing an additional 350,000 shares during the period. Amundi boosted its position in shares of Warner Bros. Discovery by 11.8% during the first quarter. Amundi now owns 14,683,675 shares of the company's stock worth $403,214,000 after buying an additional 1,547,404 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Warner Bros. Discovery by 36.3% during the first quarter. EverSource Wealth Advisors LLC now owns 7,532 shares of the company's stock worth $207,000 after buying an additional 2,007 shares during the period. Readystate Asset Management LP grew its holdings in Warner Bros. Discovery by 424.7% in the 1st quarter. Readystate Asset Management LP now owns 1,659,671 shares of the company's stock worth $45,575,000 after buying an additional 1,343,333 shares in the last quarter. Finally, Empyrean Capital Partners LP grew its holdings in Warner Bros. Discovery by 29.1% in the 1st quarter. Empyrean Capital Partners LP now owns 2,583,000 shares of the company's stock worth $70,929,000 after buying an additional 583,000 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Ratings Changes

WBD has been the topic of several recent research reports. Seaport Research Partners lowered Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a report on Monday, July 27th. KeyCorp restated an "overweight" rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a report on Thursday, May 7th. Zacks Research downgraded shares of Warner Bros. Discovery from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. Finally, UBS Group raised their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $27.04.

Warner Bros. Discovery Stock Up 3.3%

WBD stock opened at $26.30 on Friday. The stock has a 50-day simple moving average of $26.57 and a two-hundred day simple moving average of $27.29. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $65.94 billion, a PE ratio of -37.57 and a beta of 1.54. Warner Bros. Discovery, Inc. has a twelve month low of $10.76 and a twelve month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the business posted ($0.18) earnings per share. Warner Bros. Discovery's quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -1.08 EPS for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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