CIBC Asset Management Inc Grows Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CIBC Asset Management Inc grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 735,025 shares of the company’s stock after purchasing an additional 40,211 shares during the period. CIBC Asset Management Inc’s holdings in Warner Bros. Discovery were worth $6,064,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WBD. Sessa Capital IM L.P. increased its position in shares of Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after acquiring an additional 235,192 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Warner Bros. Discovery by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after acquiring an additional 719,869 shares in the last quarter. Yacktman Asset Management LP increased its position in shares of Warner Bros. Discovery by 1.2% during the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after acquiring an additional 100,565 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its position in shares of Warner Bros. Discovery by 23.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after acquiring an additional 1,452,913 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WBD shares. Wells Fargo & Company reduced their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Raymond James lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Macquarie lifted their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Stock Down 6.5 %

WBD opened at $9.22 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm’s fifty day moving average is $8.10 and its 200 day moving average is $7.88. The stock has a market cap of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal 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.