Sanctuary Advisors LLC Makes New $1.30 Million Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sanctuary Advisors LLC 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 institutional investor acquired 159,972 shares of the company’s stock, valued at approximately $1,297,000.

A number of other large investors have also made changes to their positions in WBD. OFI Invest Asset Management grew its stake in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. Wellington Shields Capital Management LLC lifted its position in Warner Bros. Discovery by 38.9% during the first quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock worth $46,000 after buying an additional 1,488 shares during the period. Xponance Inc. boosted its stake in Warner Bros. Discovery by 0.5% in the 2nd quarter. Xponance Inc. now owns 316,739 shares of the company’s stock worth $2,357,000 after buying an additional 1,614 shares during the last quarter. Cigna Investments Inc. New grew its holdings in Warner Bros. Discovery by 6.9% in the 2nd quarter. Cigna Investments Inc. New now owns 25,465 shares of the company’s stock valued at $190,000 after buying an additional 1,654 shares during the period. Finally, Brookstone Capital Management increased its stake in shares of Warner Bros. Discovery by 6.2% during the 1st quarter. Brookstone Capital Management now owns 28,466 shares of the company’s stock valued at $249,000 after acquiring an additional 1,657 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday. Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. JPMorgan Chase & Co. lowered their price target on 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. Finally, The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.66.

Warner Bros. Discovery Stock Down 2.5 %

Shares of Warner Bros. Discovery stock opened at $7.54 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The business has a 50-day moving average of $7.76 and a 200-day moving average of $7.92. The company has a market capitalization of $18.48 billion, a PE ratio of -6.08 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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). The business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal 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.