William B. Walkup & Associates Inc. Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

William B. Walkup & Associates Inc. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,976 shares of the company’s stock, valued at approximately $59,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WBD. TD Asset Management Inc raised its holdings in Warner Bros. Discovery by 5.5% during the 4th quarter. TD Asset Management Inc now owns 940,552 shares of the company’s stock valued at $10,703,000 after buying an additional 48,951 shares during the period. Evoke Wealth LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $220,000. Dorsey & Whitney Trust CO LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $193,000. Qtron Investments LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $185,000. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 1.0 %

Shares of NASDAQ:WBD opened at $8.38 on Monday. The business has a 50-day moving average price of $7.87 and a 200 day moving average price of $7.95. The company has a market capitalization of $20.53 billion, a price-to-earnings ratio of -6.76 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.07 billion. During the same period in the prior year, the business earned ($0.51) EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WBD. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Barclays cut their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a 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 research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” 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 issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently 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.