Raymond James Financial Inc. Has $21.91 Million Holdings in Warner Bros. Discovery, Inc. $WBD

Raymond James Financial Inc. raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,041,662 shares of the company’s stock after purchasing an additional 98,296 shares during the period. Raymond James Financial Inc. owned 0.08% of Warner Bros. Discovery worth $21,907,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Warner Bros. Discovery by 1.7% during the first quarter. Vanguard Group Inc. now owns 256,820,031 shares of the company’s stock worth $2,755,679,000 after buying an additional 4,169,240 shares during the last quarter. Invesco Ltd. grew its holdings in Warner Bros. Discovery by 2.1% during the 1st quarter. Invesco Ltd. now owns 43,341,297 shares of the company’s stock worth $465,052,000 after acquiring an additional 873,869 shares during the period. Northern Trust Corp raised its position in shares of Warner Bros. Discovery by 13.5% in the 4th quarter. Northern Trust Corp now owns 22,996,874 shares of the company’s stock worth $243,077,000 after acquiring an additional 2,735,196 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in shares of Warner Bros. Discovery by 0.7% in the 4th quarter. EdgePoint Investment Group Inc. now owns 21,536,172 shares of the company’s stock valued at $227,637,000 after purchasing an additional 139,453 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Warner Bros. Discovery by 9.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,130,229 shares of the company’s stock valued at $194,537,000 after purchasing an additional 1,583,067 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Down 2.0%

Warner Bros. Discovery stock opened at $11.80 on Wednesday. The firm has a market capitalization of $29.21 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 1.60 and a beta of 1.57. The firm’s fifty day moving average price is $11.90 and its two-hundred day moving average price is $10.44. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($4.07) EPS. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Anton J. Levy bought 250,000 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director directly owned 874,000 shares of the company’s stock, valued at $9,526,600. This trade represents a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WBD has been the subject of several recent analyst reports. KeyCorp decreased their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Morgan Stanley lifted their price objective on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Barclays boosted their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their price target on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

About Warner Bros. Discovery

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.