PDT Partners LLC Takes $2.54 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

PDT Partners LLC acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 308,201 shares of the company’s stock, valued at approximately $2,543,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the second quarter worth approximately $26,000. OFI Invest Asset Management raised its stake in Warner Bros. Discovery by 45.9% during 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 in the last quarter. Bank & Trust Co acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth $39,000. LRI Investments LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at $39,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter worth about $41,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Finally, Barclays lifted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.48 on Friday. The firm’s fifty day simple moving average is $8.54 and its 200-day simple moving average is $8.03. 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 stock has a market cap of $25.71 billion, a PE ratio of -2.29 and a beta of 1.48. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

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