Czech National Bank Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Czech National Bank raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 424,906 shares of the company’s stock after buying an additional 34,454 shares during the period. Czech National Bank’s holdings in Warner Bros. Discovery were worth $3,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery during the first quarter worth about $27,000. First Financial Corp IN lifted its position in shares of Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $33,000. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth about $33,000. Finally, Rakuten Securities Inc. acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $35,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Down 3.8 %

Warner Bros. Discovery stock traded down $0.27 during midday trading on Monday, reaching $6.76. The stock had a trading volume of 13,739,284 shares, compared to its average volume of 28,689,555. The firm’s fifty day simple moving average is $7.74 and its two-hundred day simple moving average is $8.37. Warner Bros. Discovery, Inc. has a twelve month low of $6.72 and a twelve month high of $13.81. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $16.56 billion, a price-to-earnings ratio of -5.67 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). The company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) EPS. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WBD. Sanford C. Bernstein dropped their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday. Benchmark dropped their price objective on shares of Warner Bros. Discovery from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research note on Friday, May 10th. Finally, TD Cowen dropped their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.39.

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.