Heron Bay Capital Management Buys 158,736 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Heron Bay Capital Management grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.1% during the second quarter, Holdings Channel reports. The fund owned 1,586,942 shares of the company’s stock after purchasing an additional 158,736 shares during the period. Warner Bros. Discovery makes up about 2.5% of Heron Bay Capital Management’s holdings, making the stock its 13th biggest holding. Heron Bay Capital Management’s holdings in Warner Bros. Discovery were worth $11,807,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. FinTrust Capital Advisors LLC grew its stake in shares of Warner Bros. Discovery by 56.3% in the fourth 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 during the last quarter. Personal CFO Solutions LLC boosted its stake in Warner Bros. Discovery by 4.6% in the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after purchasing an additional 1,108 shares in the last quarter. Holistic Financial Partners increased its stake in Warner Bros. Discovery by 5.8% during the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock valued at $242,000 after purchasing an additional 1,167 shares in the last quarter. OFI Invest Asset Management raised its holdings in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the last quarter. Finally, NEOS Investment Management LLC grew its holdings in shares of Warner Bros. Discovery by 1.1% during the fourth quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock valued at $1,279,000 after buying an additional 1,226 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WBD shares. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. JPMorgan Chase & Co. decreased their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Trading Down 1.9 %

WBD stock opened at $8.24 on Friday. The firm has a fifty day moving average price of $7.86 and a 200 day moving average price of $7.98. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a market cap of $20.19 billion, a PE ratio of -6.65 and a beta of 1.48. 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 quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during 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%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 earnings per share 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.