National Bank of Canada FI Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

National Bank of Canada FI raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 40.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,019,450 shares of the company’s stock after buying an additional 581,308 shares during the period. National Bank of Canada FI’s holdings in Warner Bros. Discovery were worth $21,668,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Warner Bros. Discovery by 16.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,314,822 shares of the company’s stock valued at $46,298,000 after buying an additional 617,534 shares in the last quarter. Deutsche Bank AG increased its holdings in Warner Bros. Discovery by 16.9% in the first quarter. Deutsche Bank AG now owns 10,900,519 shares of the company’s stock valued at $116,963,000 after buying an additional 1,578,944 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Warner Bros. Discovery by 9.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,130,229 shares of the company’s stock valued at $194,537,000 after buying an additional 1,583,067 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in Warner Bros. Discovery in the first quarter valued at about $1,564,000. Finally, Citizens Financial Group Inc. RI increased its holdings in Warner Bros. Discovery by 15.3% in the first quarter. Citizens Financial Group Inc. RI now owns 13,527 shares of the company’s stock valued at $145,000 after buying an additional 1,794 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a report on Monday, June 9th. Raymond James Financial dropped their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday. KeyCorp dropped their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday. Finally, UBS Group raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Twelve investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.84.

Warner Bros. Discovery Stock Down 8.0%

Shares of NASDAQ WBD opened at $10.91 on Monday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.86. The firm’s 50 day moving average price is $11.52 and its 200 day moving average price is $10.33. The firm has a market cap of $26.78 billion, a P/E ratio of 36.37 and a beta of 1.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.04 and a current ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned ($4.07) earnings per share. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 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.