Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,307 shares of the company’s stock after purchasing an additional 9,702 shares during the period. Profund Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,855,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its position in shares of Warner Bros. Discovery by 5,128.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after purchasing an additional 343,854 shares during the period. Thompson Investment Management Inc. raised its position in Warner Bros. Discovery by 23.5% during the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after buying an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares during the period. Global Assets Advisory LLC acquired a new position in Warner Bros. Discovery during the first quarter valued at $182,000. Finally, SageView Advisory Group LLC acquired a new position in Warner Bros. Discovery during the fourth quarter valued at $129,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

WBD opened at $8.24 on Monday. The firm has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48. The stock’s 50 day moving average price is $7.86 and its two-hundred day moving average price is $7.97. 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.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned ($0.51) EPS. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

WBD has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group dropped their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Barclays lowered their target price 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, Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $10.93.

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.