Intech Investment Management LLC Acquires 34,050 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Intech Investment Management LLC lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 40.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,531 shares of the company’s stock after purchasing an additional 34,050 shares during the quarter. Intech Investment Management LLC’s holdings in Warner Bros. Discovery were worth $978,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares during the period. Private Management Group Inc. increased its holdings in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after purchasing an additional 1,886,868 shares during the period. Natixis Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after purchasing an additional 52,051 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Warner Bros. Discovery by 1,216.7% during 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 period. Finally, International Assets Investment Management LLC increased its stake in Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after acquiring an additional 163,295 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on WBD. TD Cowen decreased their price objective on shares of 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. Moffett Nathanson decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group lifted their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Barrington Research reissued an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $10.38 on Thursday. The firm has a market cap of $25.46 billion, a PE ratio of -2.27 and a beta of 1.48. The firm’s fifty day moving average is $8.41 and its 200-day moving average is $7.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share 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.