CIBC Asset Management Inc Acquires 40,211 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CIBC Asset Management Inc lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 735,025 shares of the company’s stock after buying an additional 40,211 shares during the period. CIBC Asset Management Inc’s holdings in Warner Bros. Discovery were worth $6,064,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. OFI Invest Asset Management grew its holdings in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the last quarter. GAM Holding AG grew its holdings in Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in Warner Bros. Discovery by 5.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares during the last quarter. PFG Investments LLC grew its holdings in Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in Warner Bros. Discovery by 13.1% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after purchasing an additional 1,565 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $9.22 on Monday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a 50 day moving average price of $8.10 and a 200-day moving average price of $7.88. 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 stock has a market capitalization of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WBD. Barrington Research reiterated an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. TD Cowen dropped their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Barclays upped their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.55.

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 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.