Sumitomo Mitsui Trust Group Inc. Has $38.03 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,609,542 shares of the company's stock after acquiring an additional 106,372 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.19% of Warner Bros. Discovery worth $38,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Empowered Funds LLC boosted its holdings in Warner Bros. Discovery by 124.5% in the first quarter. Empowered Funds LLC now owns 52,891 shares of the company's stock worth $462,000 after purchasing an additional 29,330 shares in the last quarter. Sei Investments Co. boosted its holdings in Warner Bros. Discovery by 29.3% in the first quarter. Sei Investments Co. now owns 521,613 shares of the company's stock worth $4,554,000 after purchasing an additional 118,278 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Warner Bros. Discovery by 10.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 324,499 shares of the company's stock worth $2,833,000 after purchasing an additional 29,642 shares in the last quarter. Blair William & Co. IL boosted its holdings in Warner Bros. Discovery by 31.0% in the first quarter. Blair William & Co. IL now owns 83,664 shares of the company's stock worth $730,000 after purchasing an additional 19,776 shares in the last quarter. Finally, M&G Plc bought a new stake in Warner Bros. Discovery in the first quarter worth $5,259,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.64 during mid-day trading on Friday, hitting $9.22. 37,874,617 shares of the stock were exchanged, compared to its average volume of 31,767,324. The company has a market cap of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48. The stock's fifty day simple moving average is $8.10 and its two-hundred day simple moving average is $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. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share 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 28.34% and a negative return on equity of 27.56%. The company's revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) earnings per share. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WBD. Wells Fargo & Company decreased their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday, August 8th. Barrington Research reissued an "outperform" rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut 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 report on Friday, August 9th. Finally, Moffett Nathanson cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $10.55.

About Warner Bros. Discovery

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.