BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 60.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 443,881 shares of the company’s stock after buying an additional 167,293 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Warner Bros. Discovery were worth $3,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. Family Firm Inc. purchased a new position in shares of Warner Bros. Discovery in the second quarter worth $26,000. Crewe Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the first quarter valued at about $27,000. OFI Invest Asset Management boosted its holdings 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 worth $27,000 after purchasing an additional 1,221 shares during the period. First Financial Corp IN grew its stake in shares of Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery in the fourth quarter worth about $33,000. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. 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 on the stock in a research note on Thursday, August 8th. Finally, Moffett Nathanson decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Trading Up 1.0 %

Shares of NASDAQ WBD opened at $8.38 on Friday. The firm’s 50 day moving average price is $7.87 and its 200-day moving average price is $7.97. 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 company has a market cap of $20.53 billion, a PE ratio of -6.76 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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 business had revenue of $9.71 billion during 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 business’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

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.