Commerce Bank Has $462,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Commerce Bank increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,963 shares of the company’s stock after purchasing an additional 1,286 shares during the period. Commerce Bank’s holdings in Warner Bros. Discovery were worth $462,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Prospera Private Wealth LLC acquired a new position in Warner Bros. Discovery during the third quarter worth $148,000. PNC Financial Services Group Inc. lifted its holdings in Warner Bros. Discovery by 25.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 515,077 shares of the company’s stock valued at $4,249,000 after purchasing an additional 105,670 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Warner Bros. Discovery in the third quarter valued at about $1,695,000. Banque Cantonale Vaudoise grew its stake in Warner Bros. Discovery by 149.8% during the third quarter. Banque Cantonale Vaudoise now owns 59,291 shares of the company’s stock worth $490,000 after buying an additional 35,554 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth approximately $99,000. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on WBD. Evercore ISI decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.11 on Wednesday. The firm has a market capitalization of $24.80 billion, a P/E ratio of -2.27 and a beta of 1.48. The business has a 50-day moving average of $8.38 and a 200-day moving average of $7.97. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current 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.