Victory Capital Management Inc. Has $22.75 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Victory Capital Management Inc. raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 43.6% during the 4th quarter, HoldingsChannel reports. The firm owned 1,534,733 shares of the company’s stock after purchasing an additional 465,711 shares during the quarter. Victory Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $22,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $2,026,804,000. BlackRock Inc. acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $1,863,279,000. State Street Corp acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $1,213,212,000. Newport Trust Co grew its stake in shares of Warner Bros. Discovery by 15.4% in the fourth quarter. Newport Trust Co now owns 51,205,017 shares of the company’s stock worth $485,424,000 after acquiring an additional 6,850,256 shares during the last quarter. Finally, Baupost Group LLC MA acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth $333,500,000. Institutional investors and hedge funds own 55.18% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $12.20 on Monday. The stock has a 50-day moving average price of $13.80 and a 200 day moving average price of $12.93. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.96. The firm has a market cap of $29.72 billion, a price-to-earnings ratio of -3.25 and a beta of 1.47. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $18.76.

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.45. The firm had revenue of $11.01 billion during the quarter, compared to analyst estimates of $11.03 billion. Warner Bros. Discovery had a positive return on equity of 3.24% and a negative net margin of 21.51%. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.2 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on WBD. Wolfe Research upgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, March 17th. Wells Fargo & Company upgraded shares of Warner Bros. Discovery from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $13.00 to $20.00 in a research note on Friday, March 17th. 22nd Century Group reiterated a “maintains” rating on shares of Warner Bros. Discovery in a research note on Monday, May 8th. Morgan Stanley lifted their price target on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, January 30th. Finally, Truist Financial began coverage on shares of Warner Bros. Discovery in a research note on Monday, April 10th. They set a “buy” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.83.

Warner Bros. Discovery Company Profile

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.