Raiffeisen Bank International AG Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Raiffeisen Bank International AG bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 56,358 shares of the company’s stock, valued at approximately $592,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Oak Thistle LLC acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $211,000. Assenagon Asset Management S.A. raised its stake in shares of Warner Bros. Discovery by 275.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,317,246 shares of the company’s stock valued at $13,923,000 after purchasing an additional 966,444 shares during the period. Empirical Asset Management LLC acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth $939,000. Tompkins Financial Corp boosted its stake in shares of Warner Bros. Discovery by 50.8% in the fourth quarter. Tompkins Financial Corp now owns 5,285 shares of the company’s stock valued at $56,000 after purchasing an additional 1,780 shares during the period. Finally, Avanza Fonder AB acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at $1,671,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.16 on Friday. The company has a market cap of $22.49 billion, a PE ratio of -2.00, a P/E/G ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a 50-day simple moving average of $9.18 and a 200 day simple moving average of $9.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.40) earnings per share. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Barclays lifted their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Morgan Stanley reduced their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Finally, Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $12.22.

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.