DekaBank Deutsche Girozentrale Purchases 6,772 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DekaBank Deutsche Girozentrale grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 621,162 shares of the company’s stock after buying an additional 6,772 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Warner Bros. Discovery were worth $6,321,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in WBD. Brighton Jones LLC raised its position in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after buying an additional 51,920 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $794,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Warner Bros. Discovery by 14.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 496,813 shares of the company’s stock valued at $5,251,000 after buying an additional 60,824 shares in the last quarter. Independent Advisor Alliance raised its position in shares of Warner Bros. Discovery by 15.3% during the 4th quarter. Independent Advisor Alliance now owns 18,302 shares of the company’s stock valued at $193,000 after buying an additional 2,424 shares in the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $124,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Citigroup lowered their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. KeyCorp lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.41.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $11.73 on Friday. The company has a market cap of $28.79 billion, a price-to-earnings ratio of -2.67 and a beta of 1.54. The company has a 50-day moving average price of $10.07 and a 200-day moving average price of $9.97. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period last year, the company posted ($0.40) earnings per share. The business’s revenue was down 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Warner Bros. Discovery Company 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.