Heron Bay Capital Management Purchases 158,736 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Heron Bay Capital Management increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,586,942 shares of the company’s stock after buying an additional 158,736 shares during the quarter. Warner Bros. Discovery accounts for approximately 2.5% of Heron Bay Capital Management’s investment portfolio, making the stock its 13th largest position. Heron Bay Capital Management owned approximately 0.06% of Warner Bros. Discovery worth $11,807,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC grew its position in shares of Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in Warner Bros. Discovery by 4.6% during the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after purchasing an additional 1,108 shares during the last quarter. Holistic Financial Partners boosted its stake in shares of Warner Bros. Discovery by 5.8% in the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock valued at $242,000 after purchasing an additional 1,167 shares during the last quarter. OFI Invest Asset Management increased its position in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the period. Finally, NEOS Investment Management LLC raised its stake in Warner Bros. Discovery by 1.1% during the fourth quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock worth $1,279,000 after buying an additional 1,226 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research analyst reports. Moffett Nathanson cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. The Goldman Sachs Group decreased their price target on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays dropped 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 note on Thursday, August 8th. Finally, Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Trading Down 1.9 %

Shares of WBD stock opened at $8.24 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The business has a 50-day moving average price of $7.86 and a two-hundred day moving average price of $7.98. The firm has a market cap of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released 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). The company had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.51) EPS. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

Warner Bros. Discovery 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.