EdgePoint Investment Group Inc. Has $227.64 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

EdgePoint Investment Group Inc. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,536,172 shares of the company's stock after purchasing an additional 139,453 shares during the period. Warner Bros. Discovery makes up 1.8% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 20th biggest position. EdgePoint Investment Group Inc. owned approximately 0.88% of Warner Bros. Discovery worth $227,637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WBD. Tidal Investments LLC grew its holdings in shares of Warner Bros. Discovery by 89.5% during the third quarter. Tidal Investments LLC now owns 142,649 shares of the company's stock worth $1,177,000 after buying an additional 67,355 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Warner Bros. Discovery by 111.0% in the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company's stock valued at $2,831,000 after purchasing an additional 197,528 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Warner Bros. Discovery by 5.1% during the fourth quarter. Nordea Investment Management AB now owns 183,888 shares of the company's stock worth $1,958,000 after purchasing an additional 8,875 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Warner Bros. Discovery by 0.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company's stock valued at $1,939,000 after purchasing an additional 1,387 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.04 during mid-day trading on Wednesday, reaching $9.14. The company had a trading volume of 20,805,375 shares, compared to its average volume of 33,133,543. The business's 50-day simple moving average is $9.27 and its 200 day simple moving average is $9.86. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of -2.00, a PEG ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Morgan Stanley lowered their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Barclays lifted their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, KeyCorp reduced 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. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.22.

Warner Bros. Discovery 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.