Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,515,569 shares of the company’s stock after acquiring an additional 239,699 shares during the quarter. Douglas Lane & Associates LLC owned 0.06% of Warner Bros. Discovery worth $12,503,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in WBD. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter worth about $26,000. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at approximately $27,000. OFI Invest Asset Management increased its stake in 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 purchasing an additional 1,221 shares during the last quarter. First Financial Corp IN raised its holdings in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $7.52 on Monday. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of -6.06 and a beta of 1.48. The business’s 50 day moving average is $7.74 and its two-hundred day moving average is $7.90. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same period in the prior year, the company earned ($0.51) EPS. The company’s revenue was down 6.2% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current year.

Analyst Ratings Changes

WBD has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. The Goldman Sachs Group lifted their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. TD Cowen decreased their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Barclays cut their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.66.

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.