CIBC Asset Management Inc Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CIBC Asset Management Inc boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% during the second quarter, Holdings Channel.com reports. The firm owned 694,814 shares of the company’s stock after buying an additional 15,833 shares during the quarter. CIBC Asset Management Inc’s holdings in Warner Bros. Discovery were worth $5,169,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $33,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $27,000. First Financial Corp IN lifted its holdings in shares of Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after acquiring an additional 2,887 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $26,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 0.5 %

Shares of NASDAQ:WBD opened at $7.32 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $7.73 and its two-hundred day moving average is $8.07. The company has a market cap of $17.94 billion, a PE ratio of -5.90 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations 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) earnings per share. Equities analysts predict that Warner Bros. Discovery, Inc. will post -3.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WBD. Deutsche Bank Aktiengesellschaft decreased 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 report on Thursday, August 8th. Morgan Stanley decreased 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. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Evercore ISI cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One equities research 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.25.

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.