Drexel Morgan & Co. Boosts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Drexel Morgan & Co. lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,328,218 shares of the company's stock after buying an additional 299,759 shares during the period. Warner Bros. Discovery accounts for approximately 6.1% of Drexel Morgan & Co.'s holdings, making the stock its 5th biggest position. Drexel Morgan & Co. owned 0.10% of Warner Bros. Discovery worth $26,495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of Warner Bros. Discovery by 16.6% during the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company's stock worth $306,085,000 after acquiring an additional 4,016,888 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company's stock valued at $237,007,000 after purchasing an additional 2,356,665 shares during the period. Northern Trust Corp raised its holdings in shares of Warner Bros. Discovery by 2.6% during the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company's stock valued at $226,692,000 after buying an additional 524,965 shares during the last quarter. Boston Partners boosted its position in shares of Warner Bros. Discovery by 9.9% during the fourth quarter. Boston Partners now owns 15,640,771 shares of the company's stock worth $177,384,000 after buying an additional 1,414,952 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Warner Bros. Discovery by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company's stock valued at $155,594,000 after acquiring an additional 575,123 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Up 0.4 %

Shares of Warner Bros. Discovery stock traded up $0.03 during midday trading on Thursday, hitting $8.23. The company's stock had a trading volume of 25,932,825 shares, compared to its average volume of 27,854,604. Warner Bros. Discovery, Inc. has a 1-year low of $7.34 and a 1-year high of $14.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $20.08 billion, a P/E ratio of -6.64 and a beta of 1.51. The stock has a 50-day simple moving average of $8.38 and a 200-day simple moving average of $9.75.

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 analysts' consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company's revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on WBD shares. Barclays decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Thursday, February 29th. Barrington Research reiterated an "outperform" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, May 9th. Sanford C. Bernstein decreased their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an "outperform" rating for the company in a research note on Friday, May 10th. Macquarie dropped their price objective 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, Morgan Stanley decreased their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.32.

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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