9,949,825 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by Boston Partners

Boston Partners acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 9,949,825 shares of the company’s stock, valued at approximately $125,599,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mach 1 Financial Group LLC bought a new position in Warner Bros. Discovery during the first quarter worth about $1,213,000. Graham Capital Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $246,734,000. Manchester Capital Management LLC grew its position in shares of Warner Bros. Discovery by 274.6% in the 1st quarter. Manchester Capital Management LLC now owns 1,817 shares of the company’s stock valued at $27,000 after purchasing an additional 1,332 shares during the period. Providence Capital Advisors LLC grew its position in shares of Warner Bros. Discovery by 1,410.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,099 shares of the company’s stock valued at $139,000 after purchasing an additional 1,960 shares during the period. Finally, Oakworth Capital Inc. grew its position in shares of Warner Bros. Discovery by 378.9% in the 1st quarter. Oakworth Capital Inc. now owns 2,107 shares of the company’s stock valued at $32,000 after purchasing an additional 1,667 shares during the period. 58.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WBD. Wells Fargo & Company decreased their price objective on Warner Bros. Discovery from $20.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. Morgan Stanley reduced their price target on Warner Bros. Discovery from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 7th. The Goldman Sachs Group reduced their price target on Warner Bros. Discovery from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Guggenheim reduced their price target on Warner Bros. Discovery from $18.00 to $15.00 in a research report on Wednesday, October 4th. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.73.

Warner Bros. Discovery Stock Up 3.8 %

WBD opened at $10.71 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $8.82 and a 1-year high of $16.34. The stock’s fifty day simple moving average is $10.66 and its 200 day simple moving average is $11.96. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. The stock has a market cap of $26.10 billion, a PE ratio of -5.41 and a beta of 1.61.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The business had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $9.97 billion. Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -1.18 earnings per share for the current 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 third parties and networks 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.