Principal Financial Group Inc. Has $21.28 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Principal Financial Group Inc. lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,579,571 shares of the company’s stock after purchasing an additional 78,653 shares during the period. Principal Financial Group Inc. owned 0.11% of Warner Bros. Discovery worth $21,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WBD. Family Firm Inc. acquired a new position in Warner Bros. Discovery during the 2nd quarter worth $26,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter worth $27,000. OFI Invest Asset Management lifted its stake in shares of Warner Bros. Discovery by 45.9% during 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 period. Transcendent Capital Group LLC boosted its holdings in Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after acquiring an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Warner Bros. Discovery in the first quarter worth about $39,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $9.72 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50 day moving average price is $8.01 and its two-hundred day moving average price is $7.86. The firm has a market cap of $23.83 billion, a P/E ratio of -2.12 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WBD. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Morgan Stanley cut 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 report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Finally, Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $10.55.

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.