Oppenheimer & Co. Inc. Grows Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 19.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 347,208 shares of the company’s stock after buying an additional 57,023 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Warner Bros. Discovery were worth $3,726,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of WBD. Colonial Trust Advisors lifted its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the period. Personal CFO Solutions LLC increased its holdings in shares of Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after purchasing an additional 1,174 shares in the last quarter. TCTC Holdings LLC lifted its stake in shares of Warner Bros. Discovery by 18.1% in the 4th quarter. TCTC Holdings LLC now owns 8,156 shares of the company’s stock valued at $86,000 after purchasing an additional 1,250 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock worth $160,000 after buying an additional 1,318 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Warner Bros. Discovery by 11.4% during the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock valued at $139,000 after buying an additional 1,338 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.3%

Shares of WBD opened at $10.87 on Thursday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock has a market cap of $26.68 billion, a PE ratio of -2.47 and a beta of 1.51. The firm’s fifty day moving average is $9.37 and its two-hundred day moving average is $9.95. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business 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 30.56% and a negative net margin of 28.16%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.40) earnings per share. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WBD shares. Barclays upped their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Monday, June 9th. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Morgan Stanley dropped their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim reaffirmed a “buy” 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $12.17.

View Our Latest Report on Warner Bros. Discovery

Warner Bros. Discovery Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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