WINTON GROUP Ltd Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

WINTON GROUP Ltd purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,723 shares of the company’s stock, valued at approximately $87,000.

Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth $198,916,000. D.A. Davidson & CO. grew its stake in Warner Bros. Discovery by 1.3% during the fourth quarter. D.A. Davidson & CO. now owns 263,403 shares of the company’s stock worth $2,998,000 after buying an additional 3,438 shares during the period. Trexquant Investment LP acquired a new position in shares of Warner Bros. Discovery during the 4th quarter valued at $4,694,000. Oxford Asset Management LLP purchased a new stake in Warner Bros. Discovery during the 4th quarter worth $466,000. Finally, Advisory Services Network LLC increased its holdings in Warner Bros. Discovery by 10.2% in the 4th quarter. Advisory Services Network LLC now owns 60,121 shares of the company’s stock valued at $684,000 after purchasing an additional 5,541 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent research reports. Barclays reduced their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Wells Fargo & Company reduced their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $8.40 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a fifty day moving average price of $7.84 and a 200 day moving average price of $7.98. The company has a market cap of $20.58 billion, a P/E ratio of -6.77 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.51) EPS. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current 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.