Corient Private Wealth LLC Buys 71,973 Shares of Warner Bros. Discovery, Inc. $WBD

Corient Private Wealth LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 28.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 323,826 shares of the company’s stock after purchasing an additional 71,973 shares during the quarter. Corient Private Wealth LLC’s holdings in Warner Bros. Discovery were worth $9,333,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $1,123,807,000. Jericho Capital Asset Management L.P. lifted its holdings in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after acquiring an additional 18,291,865 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $74,916,000. Amundi boosted its position in shares of Warner Bros. Discovery by 59.6% during the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after acquiring an additional 5,798,592 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Warner Bros. Discovery in the third quarter valued at approximately $100,135,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $27.20 on Thursday. The company has a market capitalization of $68.19 billion, a PE ratio of -38.86 and a beta of 1.54. The company has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $27.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the firm posted ($0.18) EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Benchmark restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. UBS Group upped their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their price objective for the company from $29.50 to $31.00 in a research note on Friday, February 27th. Finally, Guggenheim reissued a “neutral” rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.04.

Read Our Latest Report on Warner Bros. Discovery

About Warner Bros. Discovery

(Free Report)

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.

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