State Street Corp Has $1.25 Billion Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

State Street Corp increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 151,285,963 shares of the company’s stock after purchasing an additional 5,898,611 shares during the quarter. State Street Corp owned about 0.06% of Warner Bros. Discovery worth $1,248,109,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in WBD. Cetera Investment Advisers lifted its holdings in Warner Bros. Discovery by 356.6% during the 1st quarter. Cetera Investment Advisers now owns 498,545 shares of the company’s stock worth $4,352,000 after purchasing an additional 389,366 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Warner Bros. Discovery by 26.5% during the 1st quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock worth $780,000 after purchasing an additional 18,699 shares during the last quarter. Czech National Bank lifted its holdings in Warner Bros. Discovery by 8.8% during the 2nd quarter. Czech National Bank now owns 424,906 shares of the company’s stock worth $3,161,000 after purchasing an additional 34,454 shares during the last quarter. Nepsis Inc. lifted its holdings in Warner Bros. Discovery by 19.7% during the 2nd quarter. Nepsis Inc. now owns 1,432,766 shares of the company’s stock worth $10,660,000 after purchasing an additional 236,152 shares during the last quarter. Finally, M&G Plc raised its holdings in Warner Bros. Discovery by 5.1% in the 2nd quarter. M&G Plc now owns 613,829 shares of the company’s stock valued at $4,297,000 after acquiring an additional 29,539 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WBD. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. The Goldman Sachs Group lifted their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Raymond James lifted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Macquarie lifted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Trading Down 0.2 %

Shares of WBD stock opened at $10.66 on Friday. The firm has a market capitalization of $26.15 billion, a P/E ratio of -2.33 and a beta of 1.52. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. 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 stock’s fifty day simple moving average is $8.77 and its 200 day simple moving average is $8.11.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.37 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 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.