Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,960,802 shares of the company’s stock after selling 70,869 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Warner Bros. Discovery were worth $24,588,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Thompson Siegel & Walmsley LLC purchased a new position in Warner Bros. Discovery in the third quarter valued at about $32,838,000. Retirement Systems of Alabama purchased a new position in Warner Bros. Discovery in the third quarter valued at about $8,438,000. First Trust Advisors LP purchased a new position in Warner Bros. Discovery in the third quarter valued at about $4,168,000. Price T Rowe Associates Inc. MD purchased a new position in Warner Bros. Discovery in the third quarter valued at about $49,058,000. Finally, Two Sigma Advisers LP purchased a new position in Warner Bros. Discovery in the third quarter valued at about $601,000. Institutional investors and hedge funds own 58.26% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $17.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, September 6th. Sanford C. Bernstein initiated coverage on Warner Bros. Discovery in a report on Thursday, October 5th. They set an “outperform” rating and a $19.00 target price on the stock. Wells Fargo & Company reduced their target price on Warner Bros. Discovery from $20.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, November 9th. Benchmark reduced their target price on Warner Bros. Discovery from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Finally, Raymond James reduced their target price on Warner Bros. Discovery from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.73.

Warner Bros. Discovery Stock Up 0.3 %

WBD opened at $10.74 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $16.34. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $26.18 billion, a P/E ratio of -5.42 and a beta of 1.61. The stock’s 50 day moving average price is $10.64 and its 200 day moving average price is $11.94.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, November 8th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $9.97 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -1.18 earnings per share for the current 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 third parties and networks 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.