Victory Capital Management Inc. Acquires 49,443 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Victory Capital Management Inc. raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,789,174 shares of the company’s stock after buying an additional 49,443 shares during the period. Victory Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $20,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. boosted its holdings in Warner Bros. Discovery by 6.9% during the third quarter. Stratos Wealth Partners LTD. now owns 39,934 shares of the company’s stock valued at $434,000 after acquiring an additional 2,562 shares during the period. Brown Advisory Inc. boosted its stake in Warner Bros. Discovery by 10.3% in the 3rd quarter. Brown Advisory Inc. now owns 54,593 shares of the company’s stock valued at $593,000 after buying an additional 5,107 shares in the last quarter. Verdence Capital Advisors LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Warner Bros. Discovery by 8.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 411,620 shares of the company’s stock worth $4,470,000 after acquiring an additional 31,928 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Warner Bros. Discovery by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,392,046 shares of the company’s stock worth $25,978,000 after purchasing an additional 431,244 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WBD shares. Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Citigroup cut their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Finally, Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Stock Up 3.1 %

Shares of Warner Bros. Discovery stock opened at $8.04 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $7.34 and a 1 year high of $14.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $19.62 billion, a P/E ratio of -6.28 and a beta of 1.51. The business has a 50-day moving average of $8.39 and a two-hundred day moving average of $9.80.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.42 earnings per share. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

Warner Bros. Discovery 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.