Quest Partners LLC Raises Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Quest Partners LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 173.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,284 shares of the company’s stock after purchasing an additional 28,104 shares during the quarter. Quest Partners LLC’s holdings in Warner Bros. Discovery were worth $365,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Warner Bros. Discovery by 6.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 67,339 shares of the company’s stock valued at $588,000 after acquiring an additional 3,984 shares during the period. CreativeOne Wealth LLC purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at $119,000. EP Wealth Advisors LLC boosted its stake in Warner Bros. Discovery by 12.6% during the 1st quarter. EP Wealth Advisors LLC now owns 20,177 shares of the company’s stock worth $176,000 after purchasing an additional 2,253 shares during the period. Quadrature Capital Ltd purchased a new position in Warner Bros. Discovery during the 1st quarter worth $836,000. Finally, LRI Investments LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at $74,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of a number of research reports. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Morgan Stanley lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Barclays boosted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.11 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business has a fifty day moving average of $8.34 and a 200-day moving average of $7.95. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of -2.21 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.37 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.