Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,963 shares of the company’s stock after purchasing an additional 9,197 shares during the quarter. Pacer Advisors Inc.’s holdings in Warner Bros. Discovery were worth $2,046,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Warner Bros. Discovery by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after acquiring an additional 3,710,343 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after buying an additional 719,869 shares during the period. Yacktman Asset Management LP raised its holdings in shares of Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after buying an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its position in Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after acquiring an additional 1,452,913 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WBD. Barrington Research reissued an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Moffett Nathanson cut their price objective 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. Deutsche Bank Aktiengesellschaft decreased their target price 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. One research 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’s stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $8.19 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 stock has a market cap of $20.07 billion, a PE ratio of -6.60 and a beta of 1.48. The firm has a fifty day moving average price of $7.88 and a 200 day moving average price of $7.97.

Warner Bros. Discovery (NASDAQ:WBD) last posted its 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 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 firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) earnings per share. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Warner Bros. Discovery Company 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.