Apollon Wealth Management LLC Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Apollon Wealth Management LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 96.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,719 shares of the company’s stock after acquiring an additional 26,421 shares during the period. Apollon Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $443,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Family Firm Inc. purchased a new stake in Warner Bros. Discovery during the 2nd quarter worth $26,000. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth $27,000. OFI Invest Asset Management increased its stake in Warner Bros. Discovery by 45.9% during the 2nd 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 period. Transcendent Capital Group LLC increased its stake in 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 buying an additional 3,480 shares during the period. Finally, LRI Investments LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter worth $39,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 6.5 %

Warner Bros. Discovery stock opened at $9.22 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $7.88. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. 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 issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion during 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%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) EPS. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on WBD shares. Barclays lifted their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery 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.