Oppenheimer & Co. Inc. Acquires 3,818 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.0% in the first quarter, HoldingsChannel reports. The firm owned 380,578 shares of the company’s stock after purchasing an additional 3,818 shares during the period. Oppenheimer & Co. Inc.’s holdings in Warner Bros. Discovery were worth $3,322,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings in Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares during the period. Norges Bank bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $198,916,000. Boston Partners lifted its stake in shares of Warner Bros. Discovery by 9.9% in the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after buying an additional 1,414,952 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Warner Bros. Discovery by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock valued at $155,594,000 after buying an additional 575,123 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Warner Bros. Discovery by 1.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock valued at $96,784,000 after buying an additional 123,693 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WBD has been the subject of several research reports. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of Warner Bros. Discovery in a research report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price target for the company. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Friday, May 10th. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $12.82.

Warner Bros. Discovery Stock Up 0.3 %

Shares of NASDAQ:WBD traded up $0.02 during midday trading on Friday, hitting $7.40. The company had a trading volume of 18,025,127 shares, compared to its average volume of 23,056,958. Warner Bros. Discovery, Inc. has a 12 month low of $6.94 and a 12 month high of $14.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $8.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

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.