175,931 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 175,931 shares of the company’s stock, valued at approximately $1,474,000.

A number of other hedge funds have also modified their holdings of WBD. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery during the second quarter worth about $26,000. OFI Invest Asset Management raised its position in shares of Warner Bros. Discovery by 45.9% during 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 during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at approximately $41,000. Larson Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Warner Bros. Discovery by 2,185.1% during the second quarter. Quarry LP now owns 6,307 shares of the company’s stock worth $47,000 after acquiring an additional 6,031 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on WBD shares. Macquarie increased their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wells Fargo & Company cut their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $10.55 on Wednesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a 50 day moving average price of $8.63 and a 200-day moving average price of $8.06. The company has a market capitalization of $25.88 billion, a PE ratio of -2.30 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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

Warner Bros. Discovery Company Profile

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.