Robeco Institutional Asset Management B.V. Raises Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Robeco Institutional Asset Management B.V. lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 26.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,826,492 shares of the company's stock after acquiring an additional 586,198 shares during the period. Robeco Institutional Asset Management B.V. owned 0.12% of Warner Bros. Discovery worth $23,319,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery during the second quarter valued at approximately $26,000. Crewe Advisors LLC bought a new stake in Warner Bros. Discovery during the 1st quarter valued at $27,000. OFI Invest Asset Management increased its stake 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 in the last quarter. Transcendent Capital Group LLC raised its holdings in Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company's stock worth $35,000 after buying an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Warner Bros. Discovery in the first quarter valued at $39,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.17 during trading hours on Wednesday, reaching $8.38. The stock had a trading volume of 44,102,190 shares, compared to its average volume of 28,867,451. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day simple moving average of $7.84 and a 200 day simple moving average of $7.82. The stock has a market cap of $20.55 billion, a P/E ratio of -1.75 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Macquarie lowered their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a "neutral" rating on the stock in a report on Monday, August 12th. Barclays cut their target price on Warner Bros. Discovery from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barrington Research restated an "outperform" rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $10.66.

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.