OMERS ADMINISTRATION Corp Cuts Position in Warner Bros. Discovery, Inc. $WBD

OMERS ADMINISTRATION Corp lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 82,743 shares of the company’s stock after selling 13,703 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Warner Bros. Discovery were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Warner Bros. Discovery by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock worth $2,755,679,000 after buying an additional 4,169,240 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Warner Bros. Discovery by 2.1% in the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock worth $465,052,000 after buying an additional 873,869 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Warner Bros. Discovery by 1.9% in the 1st quarter. Northern Trust Corp now owns 23,427,661 shares of the company’s stock worth $251,379,000 after buying an additional 430,787 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 0.7% in the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company’s stock worth $227,637,000 after buying an additional 139,453 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 9.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,130,229 shares of the company’s stock worth $194,537,000 after buying an additional 1,583,067 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 3.5%

Shares of WBD stock opened at $11.64 on Tuesday. The company’s fifty day simple moving average is $12.01 and its two-hundred day simple moving average is $10.50. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. Warner Bros. Discovery, Inc. has a 1 year low of $6.78 and a 1 year high of $13.86. The stock has a market capitalization of $28.82 billion, a price-to-earnings ratio of 38.80, a PEG ratio of 1.55 and a beta of 1.59.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.73 billion. During the same quarter in the previous year, the firm posted ($4.07) EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy bought 75,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were acquired at an average price of $11.00 per share, with a total value of $825,000.00. Following the acquisition, the director directly owned 949,000 shares of the company’s stock, valued at $10,439,000. The trade was a 8.58% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WBD. Barclays boosted their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Raymond James Financial lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, July 30th. Bank of America lifted their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Finally, KeyCorp lowered their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.14.

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.