Empowered Funds LLC Purchases 2,901 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Empowered Funds LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,354 shares of the company’s stock after purchasing an additional 2,901 shares during the quarter. Empowered Funds LLC’s holdings in Warner Bros. Discovery were worth $481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WBD. Sessa Capital IM L.P. grew its position in shares of Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after purchasing an additional 5,100,000 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after buying an additional 3,826,715 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares during the period. EdgePoint Investment Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after buying an additional 2,621,582 shares in the last quarter. Finally, Drexel Morgan & Co. boosted its position in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after acquiring an additional 2,000,000 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WBD. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Moffett Nathanson decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Raymond James lifted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Finally, Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $10.11 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day simple moving average of $8.34 and a two-hundred day simple moving average of $7.95. The firm has a market capitalization of $24.80 billion, a PE ratio of -2.21 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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 company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the company posted ($0.17) EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

About Warner Bros. Discovery

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.