Sumitomo Mitsui Trust Group Inc. Buys 106,372 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,609,542 shares of the company’s stock after acquiring an additional 106,372 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Warner Bros. Discovery worth $38,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WBD. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery during the second quarter worth $26,000. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery during the first quarter worth about $27,000. OFI Invest Asset Management boosted its holdings in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the last quarter. Transcendent Capital Group LLC increased its position in Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after purchasing an additional 3,480 shares during the period. Finally, LRI Investments LLC bought a new position in Warner Bros. Discovery during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Barclays lifted their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $9.22 on Friday. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm’s 50-day simple moving average is $8.10 and its 200 day simple moving average is $7.88.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 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.