Mather Group LLC. Buys 15,859 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mather Group LLC. increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 102.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,292 shares of the company’s stock after acquiring an additional 15,859 shares during the period. Mather Group LLC.’s holdings in Warner Bros. Discovery were worth $258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thompson Investment Management Inc. increased its holdings in Warner Bros. Discovery by 23.5% during the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares during the period. Global Assets Advisory LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $182,000. SageView Advisory Group LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $129,000. Finally, Mackenzie Financial Corp increased its holdings in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday. Moffett Nathanson reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group upped their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Evercore ISI reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. One 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $7.52 on Friday. 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 $18.43 billion, a P/E ratio of -6.06 and a beta of 1.48. The stock’s 50 day moving average is $7.74 and its 200 day moving average is $7.91. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results 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 company had revenue of $9.71 billion during 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 business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.51) EPS. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current fiscal 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.