Banque Cantonale Vaudoise Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Banque Cantonale Vaudoise boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2,729.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 23,737 shares of the company’s stock after buying an additional 22,898 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Warner Bros. Discovery were worth $176,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at $198,916,000. Retirement Systems of Alabama grew its holdings in Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in 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 during the period. EdgePoint Investment Group Inc. lifted its stake in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Finally, Drexel Morgan & Co. boosted its position in shares of Warner Bros. Discovery by 97.6% during the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after buying an additional 2,272,245 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WBD. Benchmark decreased their price target on Warner Bros. Discovery from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company decreased their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Macquarie cut their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Moffett Nathanson dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.25.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $7.36 on Wednesday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a 50 day moving average of $7.72 and a two-hundred day moving average of $8.07. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market cap of $18.03 billion, a price-to-earnings ratio of -5.94 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the previous year, the company posted ($0.51) EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -3.65 earnings per share for the current fiscal year.

About Warner Bros. Discovery

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.