Daiwa Securities Group Inc. Acquires 44,185 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Daiwa Securities Group Inc. boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 569,009 shares of the company’s stock after purchasing an additional 44,185 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Warner Bros. Discovery were worth $4,694,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares in the last quarter. Pitcairn Co. bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at $91,000. Cerity Partners LLC lifted its stake in Warner Bros. Discovery by 81.0% in the 3rd quarter. Cerity Partners LLC now owns 210,104 shares of the company’s stock worth $1,733,000 after purchasing an additional 94,050 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Warner Bros. Discovery by 7.2% during the third quarter. Raymond James Trust N.A. now owns 30,495 shares of the company’s stock valued at $252,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Sessa Capital IM L.P. increased its holdings in shares of Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.11 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock’s fifty day moving average is $8.38 and its two-hundred day moving average is $7.97. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market capitalization of $24.80 billion, a PE ratio of -2.21 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. 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 $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the prior year, the business posted ($0.17) earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WBD. Moffett Nathanson dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Finally, Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.55.

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.