M&G Plc Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

M&G PLC increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 84.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,132,579 shares of the company's stock after purchasing an additional 518,750 shares during the quarter. M&G PLC's holdings in Warner Bros. Discovery were worth $9,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sessa Capital IM L.P. lifted its holdings in shares of Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company's stock valued at $169,520,000 after purchasing an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 1.1% in the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company's stock worth $155,165,000 after acquiring an additional 235,192 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Warner Bros. Discovery by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company's stock valued at $105,595,000 after acquiring an additional 719,869 shares in the last quarter. Yacktman Asset Management LP raised its position in shares of Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company's stock worth $60,654,000 after purchasing an additional 100,565 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company's stock worth $56,116,000 after purchasing an additional 1,452,913 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WBD shares. Moffett Nathanson reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Barrington Research restated an "outperform" rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Raymond James upped their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $10.55.

Warner Bros. Discovery Stock Performance

WBD traded down $0.19 during midday trading on Friday, reaching $9.18. The company had a trading volume of 52,663,437 shares, compared to its average volume of 24,571,940. The business has a 50-day moving average of $7.90 and a two-hundred day moving average of $7.84. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.55 earnings per share for the current 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.