Motley Fool Asset Management LLC Buys 12,129 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Motley Fool Asset Management LLC grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,309 shares of the company’s stock after buying an additional 12,129 shares during the period. Motley Fool Asset Management LLC’s holdings in Warner Bros. Discovery were worth $692,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WBD. The Manufacturers Life Insurance Company raised its holdings in Warner Bros. Discovery by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after acquiring an additional 3,710,343 shares during the period. Norges Bank bought a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $198,916,000. Boston Partners grew its holdings in Warner Bros. Discovery by 9.9% in the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after buying an additional 1,414,952 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Warner Bros. Discovery by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock worth $155,594,000 after buying an additional 575,123 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Warner Bros. Discovery by 1.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock worth $96,784,000 after buying an additional 123,693 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WBD. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Sanford C. Bernstein dropped their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday. Finally, Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their price target for the company from $7.00 to $10.00 in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.29.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.34 during trading hours on Wednesday, hitting $8.32. The stock had a trading volume of 46,135,599 shares, compared to its average volume of 27,808,730. Warner Bros. Discovery, Inc. has a 52 week low of $6.94 and a 52 week high of $14.76. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of -6.71 and a beta of 1.49. The company’s fifty day moving average is $7.70 and its two-hundred day moving average is $8.70. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the prior year, the company posted $0.18 earnings per share. Warner Bros. Discovery’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current 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.