DNB Asset Management AS Boosts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DNB Asset Management AS boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 383,532 shares of the company’s stock after purchasing an additional 45,901 shares during the period. DNB Asset Management AS’s holdings in Warner Bros. Discovery were worth $2,853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Warner Bros. Discovery by 14.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares during the period. Norges Bank bought a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $198,916,000. Boston Partners lifted its stake in shares of Warner Bros. Discovery by 9.9% in the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after purchasing an additional 1,414,952 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Warner Bros. Discovery by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock valued at $155,594,000 after purchasing an additional 575,123 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on Warner Bros. Discovery in a report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price objective for the company. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research report on Tuesday, April 23rd. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Sanford C. Bernstein lowered their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Finally, Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $11.82.

Warner Bros. Discovery Stock Performance

WBD stock traded down $0.31 on Tuesday, hitting $7.57. The company had a trading volume of 45,277,496 shares, compared to its average volume of 28,301,889. 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 12-month low of $6.94 and a 12-month high of $14.76. The stock has a market cap of $18.55 billion, a price-to-earnings ratio of -6.16 and a beta of 1.49. The stock’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $8.47.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results 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). The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.44 earnings per share for the current fiscal 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.