Yacktman Asset Management LP Purchases 1,737 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Yacktman Asset Management LP grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,647,415 shares of the company’s stock after purchasing an additional 1,737 shares during the quarter. Yacktman Asset Management LP owned approximately 0.31% of Warner Bros. Discovery worth $82,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Colonial Trust Advisors raised its stake in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the period. TCTC Holdings LLC increased its stake in Warner Bros. Discovery by 18.1% in the 4th quarter. TCTC Holdings LLC now owns 8,156 shares of the company’s stock worth $86,000 after buying an additional 1,250 shares during the period. Flagship Harbor Advisors LLC increased its stake in Warner Bros. Discovery by 9.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock worth $160,000 after buying an additional 1,318 shares during the period. Bessemer Group Inc. increased its stake in Warner Bros. Discovery by 11.4% in the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock worth $139,000 after buying an additional 1,338 shares during the period. Finally, CX Institutional increased its stake in Warner Bros. Discovery by 5.7% in the 1st quarter. CX Institutional now owns 27,324 shares of the company’s stock worth $293,000 after buying an additional 1,465 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $11.41 on Wednesday. The stock has a 50 day moving average price of $9.89 and a 200 day moving average price of $9.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of -2.59 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned ($0.40) earnings per share. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on WBD shares. UBS Group increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday. Raymond James Financial lowered their target price 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. Bank of America raised their price target on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Citigroup reduced their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Finally, Barclays lifted their target price on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, May 9th. Twelve research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.21.

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.