Rakuten Securities Inc. Has $40,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rakuten Securities Inc. boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 116.3% in the first quarter, Holdings Channel reports. The institutional investor owned 3,738 shares of the company’s stock after acquiring an additional 2,010 shares during the quarter. Rakuten Securities Inc.’s holdings in Warner Bros. Discovery were worth $40,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WBD. Colonial Trust Advisors boosted its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after buying an additional 1,066 shares during the last quarter. Personal CFO Solutions LLC grew its stake in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after buying an additional 1,174 shares in the last quarter. TCTC Holdings LLC increased its holdings in Warner Bros. Discovery by 18.1% in the fourth quarter. TCTC Holdings LLC now owns 8,156 shares of the company’s stock worth $86,000 after buying an additional 1,250 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Warner Bros. Discovery by 11.4% in the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock valued at $139,000 after acquiring an additional 1,338 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Raymond James Financial cut their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Huber Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.17.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.57 on Thursday. The company has a market cap of $25.95 billion, a P/E ratio of -2.40 and a beta of 1.51. The company has a fifty day simple moving average of $9.11 and a 200 day simple moving average of $9.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the business posted ($0.40) EPS. Warner Bros. Discovery’s revenue was down 9.8% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

About Warner Bros. Discovery

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.