Robeco Institutional Asset Management B.V. Acquires 586,198 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Robeco Institutional Asset Management B.V. raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,826,492 shares of the company’s stock after buying an additional 586,198 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.12% of Warner Bros. Discovery worth $23,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on WBD. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barclays dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley decreased 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. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Wells Fargo & Company decreased their price objective on 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Trading Up 0.5 %

Shares of NASDAQ WBD opened at $8.21 on Wednesday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market cap of $20.13 billion, a PE ratio of -1.71 and a beta of 1.48. The business has a fifty day simple moving average of $7.83 and a two-hundred day simple moving average of $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 released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.51) earnings per share. Analysts expect that Warner Bros. Discovery, Inc. will post -4.5 earnings per share for the current fiscal year.

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.