Rakuten Securities Inc. Makes New $35,000 Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rakuten Securities Inc. bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,069 shares of the company’s stock, valued at approximately $35,000.

A number of other large investors have also bought and sold shares of WBD. Thompson Siegel & Walmsley LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $32,838,000. Retirement Systems of Alabama purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $8,438,000. First Trust Advisors LP purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $4,168,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $49,058,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at $601,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 1.0 %

NASDAQ WBD opened at $8.31 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average of $8.79 and a 200-day moving average of $10.06.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period last year, the firm posted $0.42 EPS. The company’s revenue was down 6.6% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WBD. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Benchmark restated a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Citigroup reduced their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Finally, Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $14.24.

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.