Wealthfront Advisers LLC Acquires 491,610 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wealthfront Advisers LLC lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 209.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 726,053 shares of the company's stock after acquiring an additional 491,610 shares during the quarter. Wealthfront Advisers LLC's holdings in Warner Bros. Discovery were worth $7,791,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WBD. Norges Bank bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $362,210,000. Contrarius Group Holdings Ltd bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $168,930,000. FMR LLC raised its holdings in Warner Bros. Discovery by 478.5% in the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after acquiring an additional 11,810,191 shares in the last quarter. Slate Path Capital LP raised its holdings in 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 acquiring an additional 6,381,000 shares in the last quarter. Finally, KBC Group NV raised its holdings in Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after acquiring an additional 6,232,561 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded up $0.26 during trading on Thursday, reaching $12.84. The company had a trading volume of 125,204,727 shares, compared to its average volume of 38,035,242. The company's fifty day moving average price is $10.37 and its 200-day moving average price is $10.02. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.03. 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 released its quarterly earnings results 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 net margin of 28.16% and a negative return on equity of 30.56%. The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter last year, the firm posted ($0.40) EPS. The company's quarterly revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on WBD. Barclays lifted 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, July 9th. 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. Citigroup lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. KeyCorp lowered their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Finally, Argus raised Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus target price of $12.41.

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.