Brighton Jones LLC Buys 2,140 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brighton Jones LLC increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.4% during the third quarter, Holdings Channel reports. The firm owned 17,030 shares of the company’s stock after acquiring an additional 2,140 shares during the period. Brighton Jones LLC’s holdings in Warner Bros. Discovery were worth $140,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WBD. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after buying an additional 5,100,000 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in Warner Bros. Discovery by 1.1% in the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after buying an additional 235,192 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after buying an additional 719,869 shares in the last quarter. Yacktman Asset Management LP boosted its stake in Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after buying an additional 100,565 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Warner Bros. Discovery by 23.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after buying an additional 1,452,913 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WBD. Morgan Stanley reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Macquarie cut their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Barclays cut their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Trading Up 1.1 %

Shares of WBD stock opened at $7.60 on Monday. The company has a market cap of $18.62 billion, a P/E ratio of -6.13 and a beta of 1.48. The stock has a 50 day simple moving average of $7.82 and a two-hundred day simple moving average of $7.83. 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, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company’s revenue 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. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 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.