Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 32.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,177 shares of the company’s stock after purchasing an additional 1,757 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Warner Bros. Discovery were worth $53,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares during the period. EdgePoint Investment Group Inc. boosted its position in Warner Bros. Discovery by 14.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares during the period. Norges Bank acquired a new position in Warner Bros. Discovery during the 4th quarter worth $198,916,000. Boston Partners boosted its position in Warner Bros. Discovery by 9.9% during the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after acquiring an additional 1,414,952 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after acquiring an additional 719,869 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 1.4 %

NASDAQ:WBD opened at $7.42 on Friday. The firm has a market capitalization of $18.18 billion, a price-to-earnings ratio of -5.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The business’s fifty day moving average price is $7.73 and its 200 day moving average price is $8.06.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to analyst estimates 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 firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) earnings per share. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -3.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WBD. Wells Fargo & Company reduced their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Benchmark reduced their price target on Warner Bros. Discovery from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Moffett Nathanson reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their price target 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, Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.25.

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.