Daymark Wealth Partners LLC Raises Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Daymark Wealth Partners LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 64.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,415 shares of the company’s stock after acquiring an additional 10,728 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Warner Bros. Discovery were worth $204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Deerfield Management Company L.P. Series C raised its holdings in Warner Bros. Discovery by 132.0% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 109,825 shares of the company’s stock valued at $817,000 after acquiring an additional 62,479 shares during the last quarter. DoubleLine ETF Adviser LP increased its holdings in shares of Warner Bros. Discovery by 8.7% in the second quarter. DoubleLine ETF Adviser LP now owns 291,108 shares of the company’s stock valued at $2,166,000 after purchasing an additional 23,193 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after buying an additional 235,192 shares in the last quarter. AQR Capital Management LLC boosted its stake in Warner Bros. Discovery by 133.4% during the second quarter. AQR Capital Management LLC now owns 1,517,168 shares of the company’s stock worth $11,265,000 after buying an additional 867,047 shares during the last quarter. Finally, AXA S.A. grew its holdings in Warner Bros. Discovery by 6.6% in the 2nd quarter. AXA S.A. now owns 200,206 shares of the company’s stock valued at $1,490,000 after buying an additional 12,312 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the subject of a number of analyst reports. TD Cowen dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company cut their price target 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. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group lowered their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Price Performance

WBD stock opened at $8.38 on Friday. The business has a 50 day simple moving average of $7.87 and a 200-day simple moving average of $7.97. 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 capitalization of $20.53 billion, a P/E ratio of -6.76 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 announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.51) EPS. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

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.