Alberta Investment Management Corp Buys New Holdings in Warner Bros. Discovery, Inc. $WBD

Alberta Investment Management Corp bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 393,675 shares of the company’s stock, valued at approximately $11,346,000.

Other hedge funds have also bought and sold shares of the company. Private Advisory Group LLC acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $3,438,000. Hauser Brothers GmbH lifted its stake in Warner Bros. Discovery by 19.8% in the 3rd quarter. Hauser Brothers GmbH now owns 2,877,000 shares of the company’s stock valued at $56,188,000 after purchasing an additional 476,000 shares during the last quarter. US Bancorp DE lifted its position in Warner Bros. Discovery by 32.7% during the third quarter. US Bancorp DE now owns 175,293 shares of the company’s stock worth $3,423,000 after acquiring an additional 43,240 shares during the last quarter. Triad Investment Management acquired a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $9,383,000. Finally, Mn Services Vermogensbeheer B.V. lifted its position in Warner Bros. Discovery by 4.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock worth $26,419,000 after acquiring an additional 38,105 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 0.9%

NASDAQ WBD opened at $26.60 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 1-year low of $10.27 and a 1-year high of $30.00. The company has a 50 day moving average of $27.09 and a 200-day moving average of $27.60. The company has a market cap of $66.69 billion, a price-to-earnings ratio of -38.00 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share 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 business had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and raised their price objective for the stock from $29.50 to $31.00 in a research report on Friday, February 27th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Argus cut their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Finally, UBS Group raised their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.04.

About Warner Bros. Discovery

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.