Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,769 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,720 shares of the company’s stock after purchasing an additional 1,769 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Warner Bros. Discovery were worth $2,284,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Park Place Capital Corp increased its position in shares of Warner Bros. Discovery by 33.4% during the 3rd quarter. Park Place Capital Corp now owns 3,677 shares of the company’s stock valued at $40,000 after purchasing an additional 921 shares during the last quarter. Forum Financial Management LP increased its position in shares of Warner Bros. Discovery by 2.3% during the 3rd quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after purchasing an additional 948 shares during the last quarter. Bridgeworth LLC increased its position in shares of Warner Bros. Discovery by 7.4% during the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after purchasing an additional 952 shares during the last quarter. Czech National Bank grew its position in Warner Bros. Discovery by 0.3% during the 4th quarter. Czech National Bank now owns 388,660 shares of the company’s stock worth $4,423,000 after acquiring an additional 996 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its position in Warner Bros. Discovery by 1.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after acquiring an additional 1,025 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of several recent research reports. Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Citigroup reduced their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $13.83.

Warner Bros. Discovery Trading Down 0.4 %

WBD opened at $8.44 on Wednesday. The stock has a market cap of $20.59 billion, a PE ratio of -6.59 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The business has a 50 day moving average of $8.74 and a 200-day moving average of $10.03. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76.

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

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.