Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 491,852 shares of the company’s stock after acquiring an additional 34,616 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Warner Bros. Discovery were worth $3,659,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WBD. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $26,000. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at $27,000. OFI Invest Asset Management increased its position in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after buying an additional 1,221 shares in the last quarter. First Financial Corp IN raised its stake in shares of Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 2.7 %

NASDAQ:WBD traded down $0.20 on Friday, reaching $7.22. The stock had a trading volume of 36,949,360 shares, compared to its average volume of 29,112,586. The company has a 50-day moving average of $7.72 and a 200 day moving average of $8.03. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market cap of $17.69 billion, a P/E ratio of -5.82 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.51) earnings per share. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -3.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on WBD. Wells Fargo & Company reduced their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Barrington Research reissued an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Moffett Nathanson reduced their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen lowered their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus price target of $10.98.

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.