Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Holdings Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 248,508 shares of the company’s stock after acquiring an additional 4,316 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Warner Bros. Discovery were worth $2,050,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Bleakley Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 48.2% during the third quarter. Bleakley Financial Group LLC now owns 20,795 shares of the company’s stock valued at $172,000 after purchasing an additional 6,766 shares during the last quarter. Good Life Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter valued at about $83,000. Regatta Capital Group LLC boosted its holdings in shares of Warner Bros. Discovery by 2.5% in the third quarter. Regatta Capital Group LLC now owns 73,144 shares of the company’s stock worth $603,000 after buying an additional 1,769 shares during the period. Creative Planning increased its position in shares of Warner Bros. Discovery by 14.1% in the third quarter. Creative Planning now owns 357,699 shares of the company’s stock worth $2,951,000 after acquiring an additional 44,129 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $183,000. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. The Goldman Sachs Group upped their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. TD Cowen decreased their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Barclays dropped their target price on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Stock Down 3.5 %

WBD stock opened at $7.55 on Tuesday. The firm has a market cap of $18.50 billion, a PE ratio of -6.09 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a fifty day simple moving average of $7.79 and a 200 day simple moving average of $7.86. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The company had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.51) EPS. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 EPS 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.