Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 224,954 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 224,954 shares of the company’s stock, valued at approximately $1,674,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares during the last quarter. Retirement Systems of Alabama boosted its position in Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after buying an additional 3,826,715 shares during the period. Mackenzie Financial Corp grew its stake in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Finally, Drexel Morgan & Co. boosted its holdings in Warner Bros. Discovery by 97.6% in the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after purchasing an additional 2,272,245 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday. Wells Fargo & Company lowered their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Macquarie dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Barclays dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $10.78.

Warner Bros. Discovery Trading Down 0.8 %

NASDAQ WBD opened at $7.72 on Tuesday. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of -6.23 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $7.93. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the prior year, the company earned ($0.51) EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.