QRG Capital Management Inc. Has $7.68 Million Position in Warner Bros. Discovery, Inc. $WBD

QRG Capital Management Inc. raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 279,816 shares of the company’s stock after buying an additional 31,494 shares during the period. QRG Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $7,684,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Swiss RE Ltd. bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $26,000. Fideuram Asset Management Ireland dac bought a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $29,000. MV Capital Management Inc. bought a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. boosted its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after buying an additional 521 shares during the period. Finally, TOWER TRUST & INVESTMENT Co boosted its position in Warner Bros. Discovery by 4,730.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after buying an additional 1,230 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $26.48 on Friday. The firm has a market cap of $66.39 billion, a price-to-earnings ratio of -37.83 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $10.76 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a 50 day moving average price of $26.91 and a two-hundred day moving average price of $27.63.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the company posted ($0.18) earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WBD shares. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They issued an “equal weight” rating and a $31.00 price target for the company. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. KeyCorp reissued an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Seaport Research Partners raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Company Profile

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.