Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by CX Institutional

CX Institutional raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.7% in the 1st quarter, Holdings Channel reports. The fund owned 27,324 shares of the company’s stock after acquiring an additional 1,465 shares during the period. CX Institutional’s holdings in Warner Bros. Discovery were worth $293,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in WBD. Brighton Jones LLC lifted its stake in shares of Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares during the period. Empowered Funds LLC lifted its stake in shares of Warner Bros. Discovery by 5.1% in the 4th quarter. Empowered Funds LLC now owns 61,303 shares of the company’s stock worth $648,000 after acquiring an additional 2,949 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Warner Bros. Discovery by 101.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 49,024 shares of the company’s stock worth $518,000 after acquiring an additional 24,692 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $26,000. Finally, Avestar Capital LLC lifted its stake in shares of Warner Bros. Discovery by 9.4% in the fourth quarter. Avestar Capital LLC now owns 14,337 shares of the company’s stock valued at $152,000 after purchasing an additional 1,228 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on WBD shares. KeyCorp reduced their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. Raymond James reduced their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Eleven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.17.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.03 on Friday. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of -2.19, a PEG ratio of 8.64 and a beta of 1.51. 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, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $9.94.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.40) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.