22,801 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Bought by Columbia Asset Management

Columbia Asset Management acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,801 shares of the company’s stock, valued at approximately $170,000.

A number of other institutional investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its position in shares of Warner Bros. Discovery by 5,128.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after purchasing an additional 343,854 shares in the last quarter. Thompson Investment Management Inc. boosted its position in shares of Warner Bros. Discovery by 23.5% during the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after purchasing an additional 213,149 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock worth $584,000 after purchasing an additional 5,081 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter worth about $182,000. Finally, SageView Advisory Group LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $129,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research analyst reports. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Moffett Nathanson lowered 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 report on Thursday, August 8th. Evercore ISI lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lowered their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $10.98.

Warner Bros. Discovery Price Performance

WBD stock opened at $7.22 on Friday. The firm’s 50-day moving average price is $7.72 and its two-hundred day moving average price is $8.04. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The stock has a market capitalization of $17.69 billion, a price-to-earnings ratio of -5.82 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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). 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 during the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter in the previous year, the firm posted ($0.51) EPS. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -3.65 earnings per share for the current year.

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.