Allianz Asset Management GmbH Sells 73,662 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Allianz Asset Management GmbH lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 25.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 218,039 shares of the company’s stock after selling 73,662 shares during the period. Allianz Asset Management GmbH’s holdings in Warner Bros. Discovery were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WBD. Invesco Ltd. increased its stake in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Warner Bros. Discovery by 12.1% during the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after acquiring an additional 2,356,665 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Warner Bros. Discovery by 2.6% in the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after acquiring an additional 524,965 shares during the last quarter. Norges Bank bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $198,916,000. Finally, Boston Partners boosted its stake in Warner Bros. Discovery by 9.9% during the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after purchasing an additional 1,414,952 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $8.27 on Friday. The firm has a market capitalization of $20.26 billion, a P/E ratio of -6.67 and a beta of 1.53. Warner Bros. Discovery, Inc. has a one year low of $7.34 and a one year high of $14.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $8.18 and a 200-day moving average price of $9.47.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the firm earned $0.18 EPS. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WBD shares. Sanford C. Bernstein dropped their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Barrington Research reiterated an “outperform” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, May 28th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.

Check Out Our Latest Analysis on WBD

Warner Bros. Discovery Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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