ING Groep NV Purchases 1,489,034 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ING Groep NV boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3,010.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,538,503 shares of the company's stock after acquiring an additional 1,489,034 shares during the quarter. ING Groep NV owned 0.06% of Warner Bros. Discovery worth $17,508,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $25,000. Pacifica Partners Inc. increased its holdings in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company's stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of Warner Bros. Discovery in the third quarter valued at about $28,000. Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $28,000. Finally, Systematic Alpha Investments LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Rosenblatt Securities raised Warner Bros. Discovery from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Barclays decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, February 29th. Citigroup dropped their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, February 29th. Finally, Sanford C. Bernstein decreased their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and an average target price of $13.32.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded down $0.18 during trading on Friday, hitting $8.05. 21,230,745 shares of the company's stock were exchanged, compared to its average volume of 32,058,220. The company has a market cap of $19.64 billion, a PE ratio of -6.49 and a beta of 1.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $14.76. The stock's 50 day moving average price is $8.36 and its two-hundred day moving average price is $9.74.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the company earned $0.18 earnings per share. Warner Bros. Discovery's revenue for the quarter was down 6.9% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.34 EPS for the current year.

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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