Charles Schwab Investment Management Inc. Purchases 687,612 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Charles Schwab Investment Management Inc. raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,685,506 shares of the company’s stock after buying an additional 687,612 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.64% of Warner Bros. Discovery worth $129,405,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sessa Capital IM L.P. raised its position in Warner Bros. Discovery by 28.8% in 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 purchasing an additional 5,100,000 shares during the last quarter. Retirement Systems of Alabama raised its holdings in shares of Warner Bros. Discovery by 781.3% in the second 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 last quarter. Mackenzie Financial Corp lifted its position 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 buying an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in Warner Bros. Discovery by 14.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares during the last quarter. Finally, Drexel Morgan & Co. increased its position in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after acquiring an additional 2,000,000 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBD. Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. dropped their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Trading Up 2.9 %

Shares of WBD stock opened at $10.40 on Tuesday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market capitalization of $25.51 billion, a PE ratio of -2.27 and a beta of 1.48. The firm has a 50 day moving average price of $8.34 and a two-hundred day moving average price of $7.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the firm posted ($0.17) EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share 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.