Principal Financial Group Inc. Cuts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Principal Financial Group Inc. lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,515,604 shares of the company’s stock after selling 45,046 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Warner Bros. Discovery worth $28,628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Forum Financial Management LP grew its holdings in Warner Bros. Discovery by 2.3% during the third quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock worth $458,000 after acquiring an additional 948 shares during the period. Bridgeworth LLC grew its holdings in Warner Bros. Discovery by 7.4% in the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after purchasing an additional 952 shares during the last quarter. Czech National Bank grew its holdings in Warner Bros. Discovery by 0.3% in the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after purchasing an additional 996 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in Warner Bros. Discovery by 1.8% in the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after purchasing an additional 1,025 shares during the last quarter. Finally, Column Capital Advisors LLC grew its holdings in Warner Bros. Discovery by 26.7% in the third quarter. Column Capital Advisors LLC now owns 5,049 shares of the company’s stock valued at $55,000 after purchasing an additional 1,063 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a report on Tuesday, April 23rd. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price on the stock in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th. JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Finally, Sanford C. Bernstein lowered their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $13.32.

Check Out Our Latest Analysis on Warner Bros. Discovery

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $8.05 on Friday. The business’s 50-day moving average price is $8.36 and its 200 day moving average price is $9.74. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The company has a market capitalization of $19.64 billion, a PE ratio of -6.49 and a beta of 1.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -0.34 earnings per share for the current year.

Warner Bros. Discovery Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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