Crossmark Global Holdings Inc. Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crossmark Global Holdings Inc. boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 77.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,027 shares of the company’s stock after acquiring an additional 96,545 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Warner Bros. Discovery were worth $2,369,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. Vanguard Group Inc. increased its stake in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC grew its holdings in Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock valued at $605,633,000 after buying an additional 1,991,441 shares during the last quarter. Norges Bank purchased a new position in Warner Bros. Discovery during the fourth quarter worth $362,210,000. Slate Path Capital LP raised its holdings in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after acquiring an additional 6,381,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Warner Bros. Discovery by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company’s stock valued at $249,545,000 after acquiring an additional 1,725,775 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays lifted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday. KeyCorp cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. UBS Group raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday. Wells Fargo & Company boosted their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, July 2nd. Finally, Raymond James Financial reduced their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.41.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $11.49 on Thursday. The firm’s fifty day simple moving average is $9.94 and its 200 day simple moving average is $9.95. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market capitalization of $28.21 billion, a price-to-earnings ratio of -2.61 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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 28.16% and a negative return on equity of 30.56%. The company had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. During the same period last year, the business earned ($0.40) earnings per share. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.