328,635 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Acquired by Tredje AP fonden

Tredje AP fonden bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 328,635 shares of the company’s stock, valued at approximately $2,445,000.

Other hedge funds also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Warner Bros. Discovery by 8.7% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,583 shares of the company’s stock worth $265,000 after purchasing an additional 2,849 shares during the period. Wealth Alliance raised its holdings in Warner Bros. Discovery by 10.5% during the 2nd quarter. Wealth Alliance now owns 18,775 shares of the company’s stock worth $140,000 after buying an additional 1,789 shares during the period. Terril Brothers Inc. lifted its stake in Warner Bros. Discovery by 0.6% in the second quarter. Terril Brothers Inc. now owns 654,475 shares of the company’s stock valued at $4,869,000 after buying an additional 4,140 shares in the last quarter. Poehling Capital Management INC. boosted its holdings in shares of Warner Bros. Discovery by 15.0% in the second quarter. Poehling Capital Management INC. now owns 744,631 shares of the company’s stock valued at $5,540,000 after buying an additional 96,951 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Warner Bros. Discovery during the second quarter worth $87,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WBD shares. 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 research report on Monday, July 29th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Moffett Nathanson dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Finally, Barrington Research restated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.40 on Friday. The company has a 50-day simple moving average of $7.84 and a 200 day simple moving average of $7.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of -6.77 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released 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 firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

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.