Fifth Third Bancorp Has $835,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fifth Third Bancorp increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,801 shares of the company’s stock after acquiring an additional 11,793 shares during the period. Fifth Third Bancorp’s holdings in Warner Bros. Discovery were worth $835,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Colonial Trust Advisors boosted its position in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the last quarter. Graney & King LLC bought a new position in Warner Bros. Discovery during the 4th quarter valued at about $28,000. Ethos Financial Group LLC bought a new position in Warner Bros. Discovery during the 4th quarter valued at about $29,000. Finally, Briaud Financial Planning Inc lifted its holdings in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 7.3%

WBD stock opened at $10.76 on Tuesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company’s 50-day simple moving average is $9.05 and its 200 day simple moving average is $9.94. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a market capitalization of $26.41 billion, a PE ratio of -2.35, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51.

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

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Argus raised shares of Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Raymond James dropped their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, KeyCorp dropped their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

About Warner Bros. Discovery

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.