Charles Schwab Investment Management Inc. Buys 575,123 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Charles Schwab Investment Management Inc. grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,672,632 shares of the company's stock after buying an additional 575,123 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.56% of Warner Bros. Discovery worth $155,594,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its stake in shares of Warner Bros. Discovery by 15.2% during the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company's stock worth $4,442,000 after acquiring an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Warner Bros. Discovery by 39.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company's stock worth $4,594,000 after purchasing an additional 120,586 shares during the period. Assenagon Asset Management S.A. lifted its stake in Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company's stock worth $9,168,000 after purchasing an additional 36,405 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at about $105,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Warner Bros. Discovery by 2.4% during the third quarter. Ameriprise Financial Inc. now owns 7,879,216 shares of the company's stock valued at $85,588,000 after buying an additional 186,639 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WBD shares. Wells Fargo & Company lowered Warner Bros. Discovery from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, February 26th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Macquarie cut their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Monday, January 22nd. Finally, Benchmark reaffirmed a "buy" rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $13.32.

Warner Bros. Discovery Trading Up 1.4 %

Shares of WBD stock traded up $0.11 during trading hours on Friday, reaching $8.15. 35,480,676 shares of the stock were exchanged, compared to its average volume of 27,778,857. Warner Bros. Discovery, Inc. has a 12-month low of $7.34 and a 12-month high of $14.76. The company's 50-day moving average price is $8.39 and its 200-day moving average price is $9.80. The firm has a market capitalization of $19.88 billion, a price-to-earnings ratio of -6.47 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company had revenue of $9.96 billion during the quarter, compared to analysts' expectations of $10.22 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The business's revenue for the quarter was down 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

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.