Canada Pension Plan Investment Board Has $3.85 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Canada Pension Plan Investment Board decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,001 shares of the company’s stock after selling 73,529 shares during the period. Canada Pension Plan Investment Board’s holdings in Warner Bros. Discovery were worth $3,854,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its holdings in shares of Warner Bros. Discovery by 5,128.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after purchasing an additional 343,854 shares during the period. Thompson Investment Management Inc. grew its stake in shares of Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after buying an additional 213,149 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Warner Bros. Discovery by 8.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $182,000. Finally, SageView Advisory Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $129,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 1.6 %

Shares of WBD stock opened at $8.19 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a fifty day moving average of $7.88 and a 200-day moving average of $7.97. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of -6.60 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business 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 business earned ($0.51) EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WBD shares. Morgan Stanley lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays decreased their target price on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Moffett Nathanson reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target of $10.93.

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.