Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Increased by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 249,945 shares of the company’s stock after purchasing an additional 9,234 shares during the period. iA Global Asset Management Inc.’s holdings in Warner Bros. Discovery were worth $2,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. OFI Invest Asset Management grew its stake in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the last quarter. Commerce Bank grew its position in shares of Warner Bros. Discovery by 2.4% during the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares during the last quarter. GAM Holding AG increased its holdings in shares of Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after acquiring an additional 1,437 shares during the period. Waldron Private Wealth LLC boosted its stake in Warner Bros. Discovery by 5.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares during the period. Finally, PFG Investments LLC grew its position in Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after purchasing an additional 1,517 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Barclays increased their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Trading Down 0.2 %

Warner Bros. Discovery stock opened at $10.66 on Monday. The firm has a market cap of $26.15 billion, a price-to-earnings ratio of -2.33 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm’s 50 day moving average price is $8.77 and its two-hundred day moving average price is $8.12. 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 (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) EPS. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

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.