CX Institutional Acquires New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CX Institutional bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 22,169 shares of the company’s stock, valued at approximately $183,000.

Several other institutional investors also recently bought and sold shares of WBD. SageView Advisory Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $129,000. Czech National Bank boosted its holdings in shares of Warner Bros. Discovery by 0.5% in the 1st quarter. Czech National Bank now owns 390,452 shares of the company’s stock valued at $3,409,000 after buying an additional 1,792 shares in the last quarter. American National Bank boosted its stake in Warner Bros. Discovery by 41.6% in the first quarter. American National Bank now owns 7,503 shares of the company’s stock valued at $66,000 after acquiring an additional 2,204 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of Warner Bros. Discovery by 14.9% during the first quarter. Park Avenue Securities LLC now owns 40,111 shares of the company’s stock worth $350,000 after purchasing an additional 5,212 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Warner Bros. Discovery by 5.7% during the first quarter. Douglas Lane & Associates LLC now owns 1,156,883 shares of the company’s stock worth $10,100,000 after purchasing an additional 62,336 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen dropped their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Barclays decreased 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 research note on Thursday, August 8th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Finally, Evercore ISI dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $10.66.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $7.78 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The company’s fifty day moving average is $7.76 and its two-hundred day moving average is $7.89. The firm has a market capitalization of $19.06 billion, a P/E ratio of -6.27 and a beta of 1.48.

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). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the previous year, the firm posted ($0.51) EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 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.