Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 44.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 668,327 shares of the company’s stock after purchasing an additional 206,694 shares during the period. Amalgamated Bank’s holdings in Warner Bros. Discovery were worth $4,972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery in the 2nd quarter worth about $26,000. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at approximately $27,000. OFI Invest Asset Management grew its holdings 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 valued at $27,000 after purchasing an additional 1,221 shares during the last quarter. First Financial Corp IN raised its position in shares of Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $33,000. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on WBD. Deutsche Bank Aktiengesellschaft lowered their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. One 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $8.24 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50 day moving average is $7.86 and its 200-day moving average is $7.98. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The stock has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 27.28% and a negative net margin of 29.47%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) EPS. Equities research 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.