Fisher Asset Management LLC Raises Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fisher Asset Management LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,837,483 shares of the company’s stock after acquiring an additional 185,395 shares during the quarter. Fisher Asset Management LLC owned 0.08% of Warner Bros. Discovery worth $20,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Fortis Group Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at about $25,000. Pacifica Partners Inc. increased its position in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Headinvest LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at about $28,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $33,000. Finally, Rakuten Securities Inc. bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $35,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 2.4 %

Warner Bros. Discovery stock opened at $6.99 on Wednesday. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of -5.64 and a beta of 1.53. The stock has a fifty day simple moving average of $8.03 and a two-hundred day simple moving average of $9.30. Warner Bros. Discovery, Inc. has a 12 month low of $6.96 and a 12 month high of $14.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. Equities analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. reduced their price objective on 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. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Finally, Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.16.

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.