AE Wealth Management LLC Acquires 3,642 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AE Wealth Management LLC boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.9% during the second quarter, HoldingsChannel reports. The fund owned 36,968 shares of the company’s stock after purchasing an additional 3,642 shares during the quarter. AE Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in Warner Bros. Discovery during the 2nd quarter worth approximately $351,000. Marathon Trading Investment Management LLC boosted its stake in shares of Warner Bros. Discovery by 104.4% in the 2nd quarter. Marathon Trading Investment Management LLC now owns 13,712 shares of the company’s stock valued at $102,000 after purchasing an additional 328,133 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Warner Bros. Discovery by 17.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 118,209 shares of the company’s stock valued at $872,000 after purchasing an additional 17,944 shares during the last quarter. Elkhorn Partners Limited Partnership boosted its stake in shares of Warner Bros. Discovery by 10.5% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 21,000 shares of the company’s stock valued at $156,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Warner Bros. Discovery by 44.8% in the 2nd quarter. Amalgamated Bank now owns 668,327 shares of the company’s stock valued at $4,972,000 after purchasing an additional 206,694 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $8.38 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of -6.76 and a beta of 1.48. The company has a fifty day moving average price of $7.87 and a 200-day moving average price of $7.97.

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 the consensus estimate 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 firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the previous year, the company earned ($0.51) EPS. The business’s revenue was down 6.2% compared to the same quarter last year. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. 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.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus price target of $10.93.

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.