Charles Schwab Investment Management Inc. Buys 687,612 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Charles Schwab Investment Management Inc. grew its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.6% in the third quarter, HoldingsChannel.com reports. The fund owned 15,685,506 shares of the company’s stock after acquiring an additional 687,612 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $129,405,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of WBD. Intech Investment Management LLC increased its stake in Warner Bros. Discovery by 40.3% in the third quarter. Intech Investment Management LLC now owns 118,531 shares of the company’s stock valued at $978,000 after acquiring an additional 34,050 shares during the last quarter. Commerce Bank boosted its holdings in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after purchasing an additional 1,286 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $148,000. PNC Financial Services Group Inc. lifted its position in shares of Warner Bros. Discovery by 25.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 515,077 shares of the company’s stock worth $4,249,000 after buying an additional 105,670 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Warner Bros. Discovery in the third quarter valued at about $1,695,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on WBD. The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, TD Cowen cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

WBD opened at $10.40 on Tuesday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The firm’s fifty day moving average price is $8.34 and its two-hundred day moving average price is $7.95.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the company earned ($0.17) earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share 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.