Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Wealth Alliance

Wealth Alliance boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,775 shares of the company’s stock after purchasing an additional 1,789 shares during the quarter. Wealth Alliance’s holdings in Warner Bros. Discovery were worth $140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after buying an additional 3,710,343 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the period. Artisan Partners Limited Partnership grew its position in Warner Bros. Discovery by 1.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock worth $96,784,000 after purchasing an additional 123,693 shares during the last quarter. Finally, Yacktman Asset Management LP increased its stake in shares of Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after purchasing an additional 100,565 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on 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. Barrington Research reissued an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays lowered their target price on shares of 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, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $8.24 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 quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market cap of $20.19 billion, a PE ratio of -6.65 and a beta of 1.48. The business has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $7.98.

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