Wellington Shields Capital Management LLC Boosts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wellington Shields Capital Management LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 38.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,317 shares of the company’s stock after acquiring an additional 1,488 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Warner Bros. Discovery were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Warner Bros. Discovery during the fourth quarter valued at about $198,916,000. The Manufacturers Life Insurance Company boosted its stake in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after acquiring an additional 3,710,343 shares during the last quarter. Drexel Morgan & Co. raised its position in shares of Warner Bros. Discovery by 97.6% during the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after purchasing an additional 2,272,245 shares during the period. ING Groep NV raised its position in shares of Warner Bros. Discovery by 3,010.0% during the 4th quarter. ING Groep NV now owns 1,538,503 shares of the company’s stock valued at $17,508,000 after purchasing an additional 1,489,034 shares during the period. Finally, Boston Partners increased its holdings in Warner Bros. Discovery by 9.9% in the 4th quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after acquiring an additional 1,414,952 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WBD shares. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, June 17th. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Friday, May 10th. Finally, The Goldman Sachs Group assumed coverage on shares of Warner Bros. Discovery in a research note on Tuesday, June 25th. They set a “neutral” rating and a $8.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.82.

Warner Bros. Discovery Trading Down 1.1 %

Warner Bros. Discovery stock traded down $0.08 during midday trading on Wednesday, hitting $7.26. 7,931,462 shares of the stock were exchanged, compared to its average volume of 27,689,488. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $14.76. The stock has a market capitalization of $17.79 billion, a price-to-earnings ratio of -5.81 and a beta of 1.49. The stock’s 50-day simple moving average is $7.72 and its 200 day simple moving average is $8.84. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the prior year, the business earned $0.18 earnings per share. Warner Bros. Discovery’s revenue was down 6.9% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

Warner Bros. Discovery Company 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.