Choreo LLC Increases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Choreo LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,049 shares of the company’s stock after purchasing an additional 13,577 shares during the quarter. Choreo LLC’s holdings in Warner Bros. Discovery were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $33,000. FinTrust Capital Advisors LLC lifted its stake in shares of Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery in the first quarter worth approximately $27,000. First Financial Corp IN lifted its stake in shares of Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares in the last quarter. Finally, Family Firm Inc. bought a new position in shares of Warner Bros. Discovery in the second quarter worth approximately $26,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.4 %

Shares of Warner Bros. Discovery stock opened at $8.42 on Thursday. 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, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company’s fifty day simple moving average is $7.82 and its 200-day simple moving average is $7.97. The stock has a market capitalization of $20.63 billion, a PE ratio of -6.79 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results 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). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter last year, the firm posted ($0.51) EPS. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WBD shares. Macquarie dropped their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Moffett Nathanson dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Barrington Research reiterated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Finally, TD Cowen dropped their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $10.93.

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.