Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,546,816 shares of the company’s stock after buying an additional 13,367 shares during the quarter. Principal Financial Group Inc.’s holdings in Warner Bros. Discovery were worth $27,327,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Colonial Trust Advisors boosted its stake in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after acquiring an additional 996 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $28,000. Briaud Financial Planning Inc boosted its stake 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 worth $29,000 after acquiring an additional 2,000 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Warner Bros. Discovery in the first quarter worth approximately $29,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $30,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. UBS Group boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley reduced their target price 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. Huber Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, June 9th. Finally, KeyCorp reduced their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Twelve equities 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.21.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $11.41 on Wednesday. The stock’s 50-day moving average is $9.89 and its two-hundred day moving average is $9.94. 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 company has a market cap of $28.01 billion, a price-to-earnings ratio of -2.59 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $9.66 billion. During the same quarter last year, the company earned ($0.40) EPS. Warner Bros. Discovery’s revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

About Warner Bros. Discovery

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.