71,009 Shares in Warner Bros. Discovery, Inc. $WBD Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the first quarter, HoldingsChannel reports. The firm acquired 71,009 shares of the company’s stock, valued at approximately $1,950,000.

Several other institutional investors have also added to or reduced their stakes in WBD. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery in the 4th quarter worth $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $29,000. MV Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $30,000. Rakuten Securities Inc. lifted its holdings in shares of Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new stake in shares of Warner Bros. Discovery in the third quarter valued at about $33,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $26.48 on Friday. The company has a market cap of $66.39 billion, a price-to-earnings ratio of -37.83 and a beta of 1.54. The firm has a 50-day moving average of $26.91 and a 200-day moving average of $27.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. Warner Bros. Discovery, Inc. has a one year low of $10.76 and a one year high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same period in the prior year, the firm posted ($0.18) EPS. Warner Bros. Discovery’s revenue was down 1.0% compared to the same quarter last year. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WBD shares. Wells Fargo & Company began coverage on Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective for the company. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Huber Research upgraded Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. UBS Group upped their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Seaport Research Partners raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.