Exchange Traded Concepts LLC Grows Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Exchange Traded Concepts LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 342.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,542 shares of the company’s stock after acquiring an additional 22,098 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Warner Bros. Discovery were worth $235,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $27,000. First Financial Corp IN boosted its position 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. acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $33,000. Finally, OFI Invest Asset Management boosted its position in shares of 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 during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $7.82 on Monday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market capitalization of $19.16 billion, a P/E ratio of -6.31 and a beta of 1.48. The business has a 50 day moving average price of $7.78 and a 200 day moving average price of $7.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

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 the consensus estimate of ($0.18) by ($3.89). The firm 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 business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WBD shares. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Wells Fargo & Company decreased their price objective on 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. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Macquarie decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.66.

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.