Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by KBC Group NV

KBC Group NV increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.8% during the 3rd quarter, Holdings Channel reports. The fund owned 899,351 shares of the company’s stock after purchasing an additional 40,862 shares during the quarter. KBC Group NV’s holdings in Warner Bros. Discovery were worth $7,420,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management increased its holdings in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the period. GAM Holding AG grew its position in shares of Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after buying an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC increased its stake in shares of Warner Bros. Discovery by 5.4% during the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after buying an additional 1,461 shares during the period. PFG Investments LLC raised its holdings in 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 acquiring an additional 1,517 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in Warner Bros. Discovery by 13.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock worth $111,000 after acquiring an additional 1,565 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 6.5 %

NASDAQ WBD opened at $9.22 on Friday. The firm’s fifty day moving average is $8.10 and its two-hundred day moving average is $7.88. 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 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Morgan Stanley cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Wells Fargo & Company cut their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery 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.