National Bank of Canada FI Has $286,000 Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

National Bank of Canada FI grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 40,283 shares of the company’s stock after buying an additional 8,219 shares during the quarter. National Bank of Canada FI’s holdings in Warner Bros. Discovery were worth $286,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WBD. Norges Bank acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $198,916,000. Retirement Systems of Alabama grew its position in shares of Warner Bros. Discovery by 781.3% in the second 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 increased its stake in shares of Warner Bros. Discovery by 17.0% in the fourth 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 position in shares of Warner Bros. Discovery by 14.6% during the 1st 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 stake in Warner Bros. Discovery by 97.6% during the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after purchasing an additional 2,272,245 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 10.8 %

Shares of NASDAQ WBD opened at $8.49 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The business has a fifty day moving average of $7.73 and a two-hundred day moving average of $7.98. The stock has a market cap of $20.82 billion, a PE ratio of -6.81 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on WBD shares. TD Cowen cut their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Macquarie decreased 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 research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $10.93.

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.