Dorsey & Whitney Trust CO LLC Purchases New Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) (2024)

Dorsey & Whitney Trust CO LLC acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,963 shares of the company’s stock, valued at approximately $193,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after purchasing an additional 2,356,665 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Warner Bros. Discovery by 2.6% during the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after acquiring an additional 524,965 shares during the last quarter. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $198,916,000. Finally, Boston Partners grew its position in Warner Bros. Discovery by 9.9% during the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after acquiring an additional 1,414,952 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WBD shares. Citigroup decreased their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Sanford C. Bernstein cut their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Friday, May 10th. Finally, Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.

Check Out Our Latest Research Report on Warner Bros. Discovery

Warner Bros. Discovery Stock Performance

WBD opened at $8.33 on Tuesday. The company’s 50-day simple moving average is $8.21 and its two-hundred day simple moving average is $9.54. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. Warner Bros. Discovery, Inc. has a 52-week low of $7.34 and a 52-week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Warner Bros. Discovery Profile

(Free Report)

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.

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