Coronation Fund Managers Ltd. Boosts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Coronation Fund Managers Ltd. boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,663,240 shares of the company’s stock after purchasing an additional 577,066 shares during the period. Warner Bros. Discovery comprises approximately 1.7% of Coronation Fund Managers Ltd.’s holdings, making the stock its 24th largest holding. Coronation Fund Managers Ltd. owned about 0.15% of Warner Bros. Discovery worth $30,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $26,000. Crewe Advisors LLC bought a new position in Warner Bros. Discovery in the first quarter worth about $27,000. OFI Invest Asset Management lifted its holdings in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the period. Transcendent Capital Group LLC boosted its position in Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after acquiring an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $39,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 1.2 %

Warner Bros. Discovery stock opened at $8.23 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The business’s fifty day moving average is $7.83 and its 200 day moving average is $7.82. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the prior year, the company posted ($0.51) EPS. Warner Bros. Discovery’s revenue was down 6.2% on a year-over-year basis. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Evercore ISI lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Wells Fargo & Company cut their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.66.

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.