Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Increased by Venture Visionary Partners LLC

Venture Visionary Partners LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.4% during the 3rd quarter, Holdings Channel reports. The fund owned 16,791 shares of the company’s stock after acquiring an additional 3,505 shares during the quarter. Venture Visionary Partners LLC’s holdings in Warner Bros. Discovery were worth $139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in WBD. Sessa Capital IM L.P. increased its position in Warner Bros. Discovery by 28.8% in 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 acquiring an additional 5,100,000 shares during the period. Retirement Systems of Alabama boosted its stake in 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 in the last quarter. Mackenzie Financial Corp grew its holdings in 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 worth $22,391,000 after acquiring an additional 2,780,986 shares during the period. EdgePoint Investment Group Inc. raised its position in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares in the last quarter. Finally, Drexel Morgan & Co. lifted its holdings in Warner Bros. Discovery by 97.6% in the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after acquiring an additional 2,272,245 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 2.7 %

Shares of NASDAQ:WBD opened at $7.33 on Thursday. The firm has a fifty day moving average of $7.81 and a two-hundred day moving average of $7.85. The firm has a market capitalization of $17.96 billion, a P/E ratio of -5.91 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) 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 analyst estimates 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 company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the business earned ($0.51) EPS. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. The Goldman Sachs Group increased their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Monday, October 7th. TD Cowen decreased their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Macquarie dropped their price target on 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $10.66.

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.