650,000 Shares in Warner Bros. Discovery, Inc. $WBD Purchased by Oddo BHF Asset Management Sas

Oddo BHF Asset Management Sas purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 650,000 shares of the company’s stock, valued at approximately $18,733,000.

A number of other institutional investors also recently made changes to their positions in WBD. Brighton Jones LLC boosted its holdings in shares of Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after acquiring an additional 21,228 shares during the period. Empowered Funds LLC boosted its holdings in shares of Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after acquiring an additional 3,779 shares during the period. Focus Partners Wealth boosted its stake in shares of Warner Bros. Discovery by 91.6% in the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after buying an additional 55,837 shares during the period. Finally, Baird Financial Group Inc. boosted its stake in shares of Warner Bros. Discovery by 3.8% in the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after buying an additional 4,062 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on WBD. Arete Research reiterated a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. Raymond James Financial reiterated an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Benchmark reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Finally, Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Stock Down 0.6%

Shares of WBD opened at $26.83 on Tuesday. Warner Bros. Discovery, Inc. has a one year low of $10.04 and a one year high of $30.00. The company has a market cap of $67.27 billion, a P/E ratio of -38.33 and a beta of 1.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $27.11 and a two-hundred day simple moving average of $27.59.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion for 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 firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share. Research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

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.