Daiwa Securities Group Inc. Acquires 44,185 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Daiwa Securities Group Inc. increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,009 shares of the company’s stock after acquiring an additional 44,185 shares during the period. Daiwa Securities Group Inc.’s holdings in Warner Bros. Discovery were worth $4,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after acquiring an additional 1,754 shares in the last quarter. Pitcairn Co. purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at about $91,000. Cerity Partners LLC increased its stake in Warner Bros. Discovery by 81.0% during the 3rd quarter. Cerity Partners LLC now owns 210,104 shares of the company’s stock valued at $1,733,000 after purchasing an additional 94,050 shares in the last quarter. Raymond James Trust N.A. raised its holdings in Warner Bros. Discovery by 7.2% in the third quarter. Raymond James Trust N.A. now owns 30,495 shares of the company’s stock worth $252,000 after buying an additional 2,059 shares during the last quarter. Finally, Sessa Capital IM L.P. lifted its stake in shares of Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WBD. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Moffett Nathanson decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.11 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of -2.21 and a beta of 1.48. The business has a 50-day simple moving average of $8.38 and a two-hundred day simple moving average of $7.97.

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