Warner Bros. Discovery, Inc. $WBD Shares Bought by Credit Industriel ET Commercial

Credit Industriel ET Commercial grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 51.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 317,251 shares of the company’s stock after acquiring an additional 107,251 shares during the period. Warner Bros. Discovery accounts for 0.7% of Credit Industriel ET Commercial’s portfolio, making the stock its 16th biggest position. Credit Industriel ET Commercial’s holdings in Warner Bros. Discovery were worth $8,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in WBD. Swiss RE Ltd. bought a new position in Warner Bros. Discovery during the 4th quarter valued at $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $29,000. MV Capital Management Inc. bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $30,000. Rakuten Securities Inc. grew its stake in Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Warner Bros. Discovery in the third quarter worth about $33,000. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WBD. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Seaport Research Partners upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Monday, June 29th. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Finally, Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $26.45 on Tuesday. Warner Bros. Discovery, Inc. has a 1 year low of $10.76 and a 1 year high of $30.00. The business’s fifty day moving average is $26.89 and its two-hundred day moving average is $27.59. The stock has a market capitalization of $66.31 billion, a P/E ratio of -37.81 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.