Fisher Asset Management LLC Buys 185,395 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fisher Asset Management LLC raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,837,483 shares of the company’s stock after purchasing an additional 185,395 shares during the period. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $20,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WBD. Norges Bank bought a new stake in Warner Bros. Discovery during the 4th quarter valued at $198,916,000. The Manufacturers Life Insurance Company boosted its position in shares of Warner Bros. Discovery by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of Warner Bros. Discovery by 1,232.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after purchasing an additional 1,524,370 shares in the last quarter. ING Groep NV boosted its position in shares of Warner Bros. Discovery by 3,010.0% in the 4th quarter. ING Groep NV now owns 1,538,503 shares of the company’s stock worth $17,508,000 after purchasing an additional 1,489,034 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Warner Bros. Discovery by 9.9% in the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after purchasing an additional 1,414,952 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WBD shares. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Finally, Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.16.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $6.99 on Wednesday. The stock has a 50-day simple moving average of $8.03 and a two-hundred day simple moving average of $9.30. The firm has a market capitalization of $17.13 billion, a P/E ratio of -5.64 and a beta of 1.53. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.96 and a fifty-two week high of $14.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current 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.