Acadian Asset Management LLC Invests $535,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Acadian Asset Management LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 72,035 shares of the company’s stock, valued at approximately $535,000.

A number of other hedge funds have also recently added to or reduced their stakes in WBD. FinTrust Capital Advisors LLC increased its stake in Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the period. Personal CFO Solutions LLC raised its stake in Warner Bros. Discovery by 4.6% during the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock valued at $286,000 after acquiring an additional 1,108 shares during the last quarter. Holistic Financial Partners lifted its position in Warner Bros. Discovery by 5.8% during the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock worth $242,000 after acquiring an additional 1,167 shares during the period. OFI Invest Asset Management grew its stake in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the last quarter. Finally, NEOS Investment Management LLC increased its holdings in shares of Warner Bros. Discovery by 1.1% in the fourth quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock valued at $1,279,000 after purchasing an additional 1,226 shares during the period. 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 several recent research reports. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. The Goldman Sachs Group dropped their target price on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Trading Down 0.4 %

Warner Bros. Discovery stock opened at $8.42 on Thursday. The stock has a 50-day moving average price of $7.82 and a 200 day moving average price of $7.97. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock has a market cap of $20.63 billion, a PE ratio of -6.79 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal 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.