First Trust Direct Indexing L.P. Has $380,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Trust Direct Indexing L.P. boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 46,058 shares of the company’s stock after acquiring an additional 6,826 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Warner Bros. Discovery were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management boosted its holdings in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the period. GAM Holding AG boosted its holdings in shares of Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after acquiring an additional 1,437 shares during the period. Waldron Private Wealth LLC boosted its holdings in shares of Warner Bros. Discovery by 5.4% during the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after acquiring an additional 1,461 shares during the period. Wellington Shields Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 38.9% during the first quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock worth $46,000 after acquiring an additional 1,488 shares during the period. Finally, PFG Investments LLC boosted its stake in shares of Warner Bros. Discovery by 1.4% in the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after buying an additional 1,517 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays cut 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 note on Thursday, August 8th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a research note on Tuesday, August 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 research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on 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. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.66.

Warner Bros. Discovery Stock Up 1.2 %

Shares of NASDAQ:WBD opened at $8.23 on Monday. The company has a fifty day moving average of $7.83 and a 200-day moving average of $7.82. The company has a market capitalization of $20.18 billion, a PE ratio of -1.71 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, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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 company 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 for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.51) earnings per share. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.5 EPS for the current fiscal year.

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.