O Keefe Stevens Advisory Inc. Boosts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

O Keefe Stevens Advisory Inc. raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 791,248 shares of the company’s stock after purchasing an additional 14,784 shares during the quarter. Warner Bros. Discovery accounts for 2.0% of O Keefe Stevens Advisory Inc.’s portfolio, making the stock its 20th biggest position. O Keefe Stevens Advisory Inc.’s holdings in Warner Bros. Discovery were worth $6,528,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in WBD. Sessa Capital IM L.P. increased its holdings in Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after purchasing an additional 5,100,000 shares during the period. Retirement Systems of Alabama increased its stake in shares of Warner Bros. Discovery by 781.3% during the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after buying an additional 3,826,715 shares during the period. Mackenzie Financial Corp increased its stake in shares of Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of 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 valued at $180,016,000 after acquiring an additional 2,621,582 shares in the last quarter. Finally, Drexel Morgan & Co. lifted its stake in Warner Bros. Discovery by 97.6% in the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock worth $40,162,000 after acquiring an additional 2,272,245 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $7.72 on Wednesday. The stock’s fifty day moving average is $7.79 and its 200 day moving average is $7.92. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. 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 stock has a market cap of $18.92 billion, a P/E ratio of -6.23 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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). The company had revenue of $9.71 billion for 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 quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.51) earnings per share. Sell-side 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 commented on WBD shares. Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company decreased their target price 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. Finally, Morgan Stanley dropped their price target on 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. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.78.

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.