Rakuten Investment Management Inc. Has $13.10 Million Holdings in Warner Bros. Discovery, Inc. $WBD

Rakuten Investment Management Inc. raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,137.4% in the fourth quarter, HoldingsChannel reports. The fund owned 454,892 shares of the company’s stock after purchasing an additional 418,129 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $13,096,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Swiss RE Ltd. bought a new stake in Warner Bros. Discovery during the fourth quarter worth $26,000. Fideuram Asset Management Ireland dac bought a new stake in Warner Bros. Discovery during the fourth quarter worth $29,000. Rakuten Securities Inc. grew its holdings in Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after buying an additional 521 shares in the last quarter. TOWER TRUST & INVESTMENT Co grew its holdings in Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after buying an additional 1,230 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group upped their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. TD Cowen upped their price target on Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Rothschild & Co Redburn set a $31.00 price target on Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $26.83 on Tuesday. The business’s fifty day simple moving average is $27.11 and its 200 day simple moving average is $27.59. The firm has a market capitalization of $67.27 billion, a P/E ratio of -38.33 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $10.04 and a 12 month high of $30.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The business had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.