Brookstone Capital Management Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brookstone Capital Management grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,046 shares of the company’s stock after purchasing an additional 6,692 shares during the quarter. Brookstone Capital Management’s holdings in Warner Bros. Discovery were worth $248,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in Warner Bros. Discovery in the second quarter valued at $26,000. Crewe Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter valued at about $27,000. OFI Invest Asset Management raised its holdings 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 purchasing an additional 1,221 shares during the period. First Financial Corp IN boosted its position in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 0.3 %

WBD stock opened at $7.54 on Tuesday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a market cap of $18.48 billion, a PE ratio of -6.08 and a beta of 1.48. The firm’s 50 day moving average price is $7.74 and its 200-day moving average price is $7.90. 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 posted its earnings results 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 net margin of 29.47% and a negative return on equity of 27.28%. 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) EPS. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WBD shares. Deutsche Bank Aktiengesellschaft decreased their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Barrington Research reissued an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price target 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. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Finally, Barclays dropped their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.66.

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.