Auto Owners Insurance Co Purchases 654,992 Shares of Warner Bros. Discovery, Inc. $WBD

Auto Owners Insurance Co raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2,784.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 678,519 shares of the company’s stock after purchasing an additional 654,992 shares during the quarter. Auto Owners Insurance Co’s holdings in Warner Bros. Discovery were worth $19,555,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of WBD. Swiss RE Ltd. acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $26,000. Fideuram Asset Management Ireland dac acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $29,000. MV Capital Management Inc. acquired a new position in Warner Bros. Discovery during the 4th quarter worth approximately $30,000. Rakuten Securities Inc. boosted its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $33,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on WBD. Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. TD Cowen raised their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and lifted their price target for the company from $29.50 to $31.00 in a research note on Friday, February 27th. Wells Fargo & Company started coverage on shares of Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Price Performance

WBD stock opened at $26.20 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $10.27 and a 52 week high of $30.00. The business has a 50-day simple moving average of $27.02 and a 200 day simple moving average of $27.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a market cap of $65.69 billion, a PE ratio of -37.43 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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 return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.