Warner Bros. Discovery, Inc. (NASDAQ:WBD) is Kamunting Street Capital Management L.P.’s 5th Largest Position

Kamunting Street Capital Management L.P. raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 35.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,041,219 shares of the company’s stock after purchasing an additional 272,569 shares during the quarter. Warner Bros. Discovery accounts for about 7.2% of Kamunting Street Capital Management L.P.’s holdings, making the stock its 5th biggest position. Kamunting Street Capital Management L.P.’s holdings in Warner Bros. Discovery were worth $7,747,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Retirement Systems of Alabama increased its holdings in Warner Bros. Discovery by 781.3% in 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. The Manufacturers Life Insurance Company increased its stake in Warner Bros. Discovery by 17.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares in the last quarter. Drexel Morgan & Co. increased its position in shares of Warner Bros. Discovery by 97.6% in the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after buying an additional 2,272,245 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its stake in shares of Warner Bros. Discovery by 31.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 6,448,459 shares of the company’s stock worth $47,977,000 after buying an additional 1,546,953 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WBD shares. Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Evercore ISI dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Price Performance

WBD stock opened at $8.16 on Tuesday. The company has a market cap of $19.99 billion, a PE ratio of -6.58 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. The stock has a 50-day moving average price of $7.88 and a two-hundred day moving average price of $7.97. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

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 return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same period last year, the company posted ($0.51) EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current 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.