DRW Securities LLC Purchases 133,779 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DRW Securities LLC boosted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 876.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,042 shares of the company’s stock after acquiring an additional 133,779 shares during the period. DRW Securities LLC’s holdings in Warner Bros. Discovery were worth $1,110,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WBD. Public Employees Retirement Association of Colorado lifted its holdings in shares of Warner Bros. Discovery by 5,128.3% in the 4th 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 in the last quarter. Thompson Investment Management Inc. lifted its stake in shares of Warner Bros. Discovery by 23.5% in 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 in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of 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 last quarter. Global Assets Advisory LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter worth about $182,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $129,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Moffett Nathanson lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley cut 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. Finally, Barclays lowered their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Price Performance

WBD opened at $8.24 on Monday. The firm has a 50-day moving average price of $7.86 and a 200-day moving average price of $7.97. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve 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 company has a market capitalization of $20.19 billion, a price-to-earnings ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share 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 analysts’ expectations 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 firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

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.