Posted by Defense World Staff on Jun 4th, 2024
Franklin Resources Inc. trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 39.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,966 shares of the company’s stock after selling 101,146 shares during the quarter. Franklin Resources Inc.’s holdings in Warner Bros. Discovery were worth $1,764,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Bridgeworth LLC grew its holdings in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after acquiring an additional 952 shares during the last quarter. Czech National Bank grew its holdings in shares of Warner Bros. Discovery by 0.3% during the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after buying an additional 996 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 1.8% during the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after buying an additional 1,025 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Warner Bros. Discovery by 20.8% during the fourth quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock valued at $68,000 after buying an additional 1,076 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. grew its holdings in shares of Warner Bros. Discovery by 0.6% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 183,745 shares of the company’s stock valued at $2,091,000 after buying an additional 1,124 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.
Warner Bros. Discovery Price Performance
Shares of NASDAQ:WBD opened at $8.33 on Tuesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $14.76. The business has a 50-day moving average of $8.21 and a two-hundred day moving average of $9.54. The stock has a market capitalization of $20.41 billion, a P/E ratio of -6.72 and a beta of 1.53. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the firm posted $0.18 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.
Analysts Set New Price Targets
WBD has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Friday, May 10th. Morgan Stanley lowered their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Citigroup lowered their price target 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. Finally, Barclays lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.
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.
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