Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Quarry LP

Quarry LP grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2,185.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,307 shares of the company’s stock after buying an additional 6,031 shares during the quarter. Quarry LP’s holdings in Warner Bros. Discovery were worth $47,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WBD. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $33,000. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery in the 1st quarter worth $27,000. First Financial Corp IN raised 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 purchasing an additional 2,887 shares during the period. Family Firm Inc. bought a new position in Warner Bros. Discovery during the second quarter worth about $26,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $7.78 on Friday. The business’s fifty day moving average price is $7.83 and its two-hundred day moving average price is $7.94. The stock has a market cap of $19.06 billion, a PE ratio of -6.27 and a beta of 1.48. 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, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WBD. Wells Fargo & Company reduced their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Macquarie decreased their target price on 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. Deutsche Bank Aktiengesellschaft reduced their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.73.

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.