Profund Advisors LLC Purchases 9,702 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Profund Advisors LLC grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 249,307 shares of the company’s stock after buying an additional 9,702 shares during the period. Profund Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement Association of Colorado lifted 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 buying an additional 343,854 shares during the period. Thompson Investment Management Inc. lifted 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 buying an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted 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 buying an additional 5,081 shares during the period. Global Assets Advisory LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $182,000. Finally, SageView Advisory Group LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $129,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 1.9 %

Shares of Warner Bros. Discovery stock opened at $8.24 on Monday. 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, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The business has a fifty day simple moving average of $7.86 and a 200 day simple moving average of $7.97. The stock has a market cap of $20.19 billion, a PE ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the previous year, the firm posted ($0.51) earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analyst Ratings Changes

WBD has been the subject of several analyst reports. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. The Goldman Sachs Group cut their price objective on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Barclays cut their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. TD Cowen cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. One 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.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average target price of $10.93.

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.