ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 18.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,008 shares of the company’s stock after buying an additional 5,091 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Warner Bros. Discovery were worth $264,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. Sessa Capital IM L.P. boosted its holdings in Warner Bros. Discovery by 28.8% in the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after acquiring an additional 5,100,000 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 1.1% in the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after purchasing an additional 235,192 shares during the period. Bank of New York Mellon Corp grew its holdings in Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares in the last quarter. Yacktman Asset Management LP increased its stake in Warner Bros. Discovery by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after buying an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after buying an additional 1,452,913 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on WBD shares. Evercore ISI lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Moffett Nathanson dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Barclays increased their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Finally, Macquarie upped their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $10.55.
Warner Bros. Discovery Price Performance
Shares of NASDAQ:WBD opened at $9.72 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $8.01 and its two-hundred day moving average is $7.86. The firm has a market capitalization of $23.83 billion, a P/E ratio of -2.12 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.41 earnings per share 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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