Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Raised by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 908,802 shares of the company’s stock after buying an additional 34,696 shares during the period. Royal London Asset Management Ltd.’s holdings in Warner Bros. Discovery were worth $6,761,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WBD. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $198,916,000. Retirement Systems of Alabama increased its stake in shares of Warner Bros. Discovery by 781.3% during the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after acquiring an additional 3,826,715 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after acquiring an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. increased its stake 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 acquiring an additional 2,272,245 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 10.8 %

Shares of NASDAQ:WBD opened at $8.49 on Friday. The firm has a fifty day moving average of $7.73 and a two-hundred day moving average of $7.98. The firm has a market capitalization of $20.82 billion, a P/E ratio of -6.85 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last issued its 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). The company had revenue of $9.71 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the business earned ($0.51) EPS. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WBD shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.93.

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.