Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,371 shares of the company’s stock after acquiring an additional 28,239 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Warner Bros. Discovery were worth $2,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery in the second quarter worth $26,000. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $27,000. OFI Invest Asset Management raised its position in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. First Financial Corp IN boosted its stake in shares of Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after buying an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WBD has been the topic of several analyst reports. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Wells Fargo & Company decreased their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price objective on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $8.45 on Wednesday. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of -6.81 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. The firm has a 50-day simple moving average of $7.80 and a 200-day simple moving average of $7.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76.

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