Premier Path Wealth Partners LLC Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Premier Path Wealth Partners LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 144,970 shares of the company’s stock after acquiring an additional 11,631 shares during the period. Premier Path Wealth Partners LLC’s holdings in Warner Bros. Discovery were worth $1,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth about $27,000. OFI Invest Asset Management increased its holdings in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. First Financial Corp IN raised its holdings in shares of Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after buying an additional 2,887 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery during the 1st quarter valued at $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

WBD stock traded up $0.55 during mid-day trading on Friday, hitting $8.05. 30,980,083 shares of the company were exchanged, compared to its average volume of 29,104,916. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $13.31. The stock has a market capitalization of $19.73 billion, a PE ratio of -6.49 and a beta of 1.49. The business has a 50 day simple moving average of $7.62 and a 200-day simple moving average of $8.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

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). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the previous year, the company earned ($0.51) EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WBD. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Friday, May 10th. 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 research report on Thursday, August 8th. Barclays cut their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. Finally, Macquarie dropped their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.25.

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.