Greenleaf Trust Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Greenleaf Trust boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,021.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,254 shares of the company’s stock after buying an additional 127,743 shares during the quarter. Greenleaf Trust’s holdings in Warner Bros. Discovery were worth $1,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter valued at $182,000. Mackenzie Financial Corp boosted its stake in shares of Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Warner Bros. Discovery by 31.0% during the first quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock valued at $2,751,000 after purchasing an additional 74,587 shares during the period. Finally, Sendero Wealth Management LLC boosted its stake in shares of Warner Bros. Discovery by 84.5% during the third quarter. Sendero Wealth Management LLC now owns 367,307 shares of the company’s stock valued at $3,030,000 after purchasing an additional 168,221 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $7.52 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year 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 capitalization of $18.43 billion, a PE ratio of -6.06 and a beta of 1.48. The company has a 50-day simple moving average of $7.81 and a two-hundred day simple moving average of $7.85.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same quarter last year, the company earned ($0.51) EPS. The business’s revenue was down 6.2% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WBD. Wells Fargo & Company lowered their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. TD Cowen decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Barclays decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Moffett Nathanson decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.66.

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.