International Assets Investment Management LLC Acquires 163,295 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

International Assets Investment Management LLC boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 629.4% in the third quarter, Holdings Channel reports. The firm owned 189,239 shares of the company’s stock after purchasing an additional 163,295 shares during the quarter. International Assets Investment Management LLC’s holdings in Warner Bros. Discovery were worth $1,561,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WBD. Family Firm Inc. bought a new stake in Warner Bros. Discovery in the second quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at $27,000. OFI Invest Asset Management grew its holdings in shares of 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 last quarter. Transcendent Capital Group LLC increased its position in shares of Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Warner Bros. Discovery during the 1st quarter valued at about $39,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 1.2 %

NASDAQ:WBD opened at $8.23 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48. The business’s 50-day moving average price is $7.83 and its two-hundred day moving average price is $7.82.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to analyst estimates 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 business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.51) earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

WBD has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Benchmark restated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wells Fargo & Company cut their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One equities 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.66.

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.