Mirae Asset Global Investments Co. Ltd. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,960,802 shares of the company’s stock after selling 70,869 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Warner Bros. Discovery worth $24,588,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its holdings in shares of Warner Bros. Discovery by 274.6% during the 1st quarter. Manchester Capital Management LLC now owns 1,817 shares of the company’s stock worth $27,000 after purchasing an additional 1,332 shares during the period. Hanson & Doremus Investment Management grew its position in Warner Bros. Discovery by 2,218.0% in the 2nd quarter. Hanson & Doremus Investment Management now owns 2,318 shares of the company’s stock valued at $29,000 after acquiring an additional 2,218 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Warner Bros. Discovery by 156.8% during the second quarter. Capital Advisors Ltd. LLC now owns 2,324 shares of the company’s stock worth $29,000 after purchasing an additional 1,419 shares during the period. KB Financial Partners LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth about $32,000. Finally, FNY Investment Advisers LLC boosted its stake in shares of Warner Bros. Discovery by 1,036.3% in the second quarter. FNY Investment Advisers LLC now owns 2,727 shares of the company’s stock valued at $34,000 after purchasing an additional 2,487 shares during the period. 58.26% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on WBD shares. Rosenblatt Securities reiterated a “sell” rating and set a $10.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 5th. Truist Financial reiterated a “buy” rating and issued a $17.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, September 6th. Evercore ISI cut their price target on Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, July 24th. Morgan Stanley decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 7th. Finally, The Goldman Sachs Group cut their target price on shares of Warner Bros. Discovery from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.73.
Warner Bros. Discovery Price Performance
Shares of NASDAQ WBD opened at $10.74 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $16.34. The firm has a market capitalization of $26.18 billion, a PE ratio of -5.42 and a beta of 1.61. The stock’s 50-day simple moving average is $10.64 and its 200-day simple moving average is $11.94.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.16). The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $9.97 billion. Warner Bros. Discovery had a negative return on equity of 0.47% and a negative net margin of 11.48%. Warner Bros. Discovery’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.18 EPS for the current fiscal year.
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 third parties and networks 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.
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