DekaBank Deutsche Girozentrale Has $5.08 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DekaBank Deutsche Girozentrale raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 55.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 614,390 shares of the company’s stock after purchasing an additional 218,270 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Warner Bros. Discovery were worth $5,079,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WBD. PFG Investments LLC grew its position in shares of Warner Bros. Discovery by 1.4% in the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after purchasing an additional 1,517 shares during the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $116,000. Forsta AP Fonden increased its position in Warner Bros. Discovery by 11.8% in the 3rd quarter. Forsta AP Fonden now owns 489,569 shares of the company’s stock worth $4,039,000 after buying an additional 51,500 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Warner Bros. Discovery by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock worth $5,028,000 after buying an additional 105,321 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Warner Bros. Discovery by 1.3% in the third quarter. Allworth Financial LP now owns 155,174 shares of the company’s stock valued at $1,280,000 after acquiring an additional 1,954 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut 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 research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. TD Cowen reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Moffett Nathanson lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Stock Up 4.6 %

Shares of WBD opened at $8.13 on Friday. The business’s 50 day simple moving average is $7.82 and its 200-day simple moving average is $7.82. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market capitalization of $19.93 billion, a P/E ratio of -1.69 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.47 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.