Lansforsakringar Fondforvaltning AB publ Makes New $1.95 Million Investment in Warner Bros. Discovery, Inc. $WBD

Lansforsakringar Fondforvaltning AB publ bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 71,009 shares of the company’s stock, valued at approximately $1,950,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in Warner Bros. Discovery in the fourth quarter worth about $1,123,807,000. Jericho Capital Asset Management L.P. lifted its position in Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $74,916,000. Amundi raised its stake in shares of Warner Bros. Discovery by 59.6% during the third quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after buying an additional 5,798,592 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Warner Bros. Discovery during the third quarter worth approximately $100,135,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $26.48 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12 month low of $10.76 and a 12 month high of $30.00. The company has a fifty day simple moving average of $26.91 and a 200 day simple moving average of $27.63. The stock has a market cap of $66.39 billion, a P/E ratio of -37.83 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Analysts Set New Price Targets

WBD has been the topic of a number of recent research reports. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Guggenheim reiterated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Seaport Research Partners raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday. UBS Group raised their price target on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.