Hotchkis & Wiley Capital Management LLC Acquires 329,620 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hotchkis & Wiley Capital Management LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.6% in the third quarter, HoldingsChannel.com reports. The firm owned 20,889,437 shares of the company’s stock after acquiring an additional 329,620 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Warner Bros. Discovery were worth $172,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of WBD. Janus Henderson Group PLC boosted its holdings in Warner Bros. Discovery by 31.0% in the 1st quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock worth $2,751,000 after buying an additional 74,587 shares during the period. Tidal Investments LLC increased its position in shares of Warner Bros. Discovery by 8.2% in the first quarter. Tidal Investments LLC now owns 86,806 shares of the company’s stock valued at $757,000 after acquiring an additional 6,591 shares during the last quarter. Cetera Investment Advisers increased its holdings in Warner Bros. Discovery by 356.6% in the 1st quarter. Cetera Investment Advisers now owns 498,545 shares of the company’s stock worth $4,352,000 after purchasing an additional 389,366 shares in the last quarter. Cetera Advisors LLC raised its holdings in Warner Bros. Discovery by 26.5% during the first quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock worth $780,000 after buying an additional 18,699 shares during the last quarter. Finally, First Hawaiian Bank increased its position in shares of Warner Bros. Discovery by 3.1% during the 2nd quarter. First Hawaiian Bank now owns 56,830 shares of the company’s stock valued at $423,000 after purchasing an additional 1,713 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.56 on Tuesday. 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 quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average of $8.58 and a 200-day moving average of $8.04.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Evercore ISI cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Raymond James lifted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.55.

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.