Chevy Chase Trust Holdings LLC Raises Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Chevy Chase Trust Holdings LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,176,711 shares of the company’s stock after acquiring an additional 3,943 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Warner Bros. Discovery were worth $12,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Colonial Trust Advisors raised its holdings in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $28,000. Ethos Financial Group LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $29,000. Finally, Briaud Financial Planning Inc lifted its position in shares of Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Citigroup decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. KeyCorp decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $11.15 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market capitalization of $27.37 billion, a P/E ratio of -2.53 and a beta of 1.51. The company’s 50-day moving average is $9.43 and its 200 day moving average is $9.95.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The firm had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. During the same period last year, the company earned ($0.40) earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.