Frank Rimerman Advisors LLC Invests $87,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Frank Rimerman Advisors LLC purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,530 shares of the company’s stock, valued at approximately $87,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. increased its position in Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares during the period. Mackenzie Financial Corp grew its holdings in Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Warner Bros. Discovery by 31.0% during the first quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock worth $2,751,000 after purchasing an additional 74,587 shares in the last quarter. Sendero Wealth Management LLC boosted its position in shares of Warner Bros. Discovery by 84.5% in the 3rd quarter. Sendero Wealth Management LLC now owns 367,307 shares of the company’s stock worth $3,030,000 after purchasing an additional 168,221 shares in the last quarter. Finally, Sessa Capital IM L.P. grew its stake in Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after buying an additional 5,100,000 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barrington Research reiterated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Evercore ISI decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research 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. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Trading Down 0.8 %

Shares of WBD stock opened at $7.55 on Wednesday. The stock has a market capitalization of $18.50 billion, a P/E ratio of -6.09 and a beta of 1.48. The company has a 50 day moving average price of $7.82 and a 200 day moving average price of $7.83. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week 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.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 last year, the business earned ($0.51) EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Warner Bros. Discovery Company 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.