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

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WBD. OFI Invest Asset Management raised its holdings in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the last quarter. GAM Holding AG raised its stake in Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares in the last quarter. PFG Investments LLC boosted its stake in Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in shares of Warner Bros. Discovery by 13.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock worth $111,000 after buying an additional 1,565 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 6.5 %

Shares of NASDAQ WBD opened at $9.22 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $8.10 and its two-hundred day moving average is $7.88. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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 the consensus estimate of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WBD shares. Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Evercore ISI lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company cut their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Morgan Stanley lowered their price objective 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. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.55.

About Warner Bros. Discovery

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.