DoubleLine ETF Adviser LP Buys 23,193 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DoubleLine ETF Adviser LP grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 291,108 shares of the company’s stock after acquiring an additional 23,193 shares during the period. DoubleLine ETF Adviser LP’s holdings in Warner Bros. Discovery were worth $2,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 1.1% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after purchasing an additional 235,192 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after buying an additional 719,869 shares during the period. Yacktman Asset Management LP raised its stake in shares of Warner Bros. Discovery by 1.2% during the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after buying an additional 100,565 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Warner Bros. Discovery by 23.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after buying an additional 1,452,913 shares during the period. 59.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WBD has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $8.19 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market cap of $20.07 billion, a PE ratio of -6.60 and a beta of 1.48. The business’s 50 day moving average price is $7.88 and its two-hundred day moving average price is $7.97. 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 (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share 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 the consensus estimate of $10.07 billion. During the same quarter last year, the company posted ($0.51) EPS. The firm’s revenue was down 6.2% on a year-over-year basis. On average, 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.