Rakuten Investment Management Inc. Has $13.10 Million Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Rakuten Investment Management Inc. grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1,137.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 454,892 shares of the company’s stock after buying an additional 418,129 shares during the period. Rakuten Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $13,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. L2 Asset Management LLC increased its holdings in Warner Bros. Discovery by 7.0% in the fourth quarter. L2 Asset Management LLC now owns 11,798 shares of the company’s stock worth $340,000 after purchasing an additional 772 shares in the last quarter. 71 West Capital Partners bought a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $240,000. Alberta Investment Management Corp bought a new stake in Warner Bros. Discovery in the fourth quarter worth approximately $11,346,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in Warner Bros. Discovery by 24.3% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,065 shares of the company’s stock worth $88,000 after purchasing an additional 600 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Warner Bros. Discovery by 27.1% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 302,136 shares of the company’s stock worth $8,708,000 after purchasing an additional 64,329 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.6%

Shares of Warner Bros. Discovery stock opened at $26.83 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a 52 week low of $10.04 and a 52 week high of $30.00. The stock has a 50 day moving average price of $27.11 and a two-hundred day moving average price of $27.59. The stock has a market capitalization of $67.27 billion, a PE ratio of -38.33 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the business posted ($0.18) EPS. The company’s revenue was down 1.0% on a year-over-year basis. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the subject of a number of research analyst reports. Rothschild & Co Redburn set a $31.00 target price on Warner Bros. Discovery and gave the stock a “neutral” rating in a report on Tuesday, February 17th. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Benchmark reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. UBS Group lifted their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a report on Monday, March 9th. They issued an “equal weight” rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.