OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 17,042 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,042 shares of the company’s stock, valued at approximately $194,000.

A number of other large investors have also recently bought and sold shares of WBD. Lindbrook Capital LLC raised its stake in shares of Warner Bros. Discovery by 28.5% during the 4th quarter. Lindbrook Capital LLC now owns 9,888 shares of the company’s stock valued at $113,000 after buying an additional 2,196 shares during the last quarter. abrdn plc raised its position in Warner Bros. Discovery by 25.7% during the fourth quarter. abrdn plc now owns 1,557,678 shares of the company’s stock valued at $17,726,000 after acquiring an additional 318,496 shares in the last quarter. Vantage Investment Partners LLC lifted its holdings in Warner Bros. Discovery by 22.6% in the fourth quarter. Vantage Investment Partners LLC now owns 1,085,000 shares of the company’s stock valued at $12,347,000 after acquiring an additional 200,000 shares during the period. Institute for Wealth Management LLC. boosted its position in Warner Bros. Discovery by 39.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 29,442 shares of the company’s stock worth $335,000 after purchasing an additional 8,258 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of Warner Bros. Discovery by 0.6% during the 4th quarter. Xponance Inc. now owns 287,750 shares of the company’s stock worth $3,275,000 after purchasing an additional 1,740 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.8 %

WBD opened at $8.47 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50 day simple moving average is $8.77 and its two-hundred day simple moving average is $10.04. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of -6.62 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WBD. Macquarie decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, January 22nd. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, January 11th. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. Finally, Morgan Stanley reduced their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery 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.