Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,484 shares of the company’s stock after purchasing an additional 3,201 shares during the period. National Bank of Canada FI’s holdings in Warner Bros. Discovery were worth $359,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. lifted its holdings in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after buying an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Warner Bros. Discovery by 1.6% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after acquiring an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Warner Bros. Discovery by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after acquiring an additional 687,612 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 3.4 %

Shares of Warner Bros. Discovery stock opened at $12.07 on Monday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business’s fifty day moving average is $9.11 and its two-hundred day moving average is $8.24. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $29.61 billion, a PE ratio of -2.64 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research analyst reports. Raymond James increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Guggenheim boosted their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Friday. Bank of America reaffirmed a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. Finally, Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.33.

Warner Bros. Discovery Company 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.