Pitcairn Co. Acquires New Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pitcairn Co. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,006 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Family Firm Inc. acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at $26,000. OFI Invest Asset Management lifted its position 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 acquiring an additional 1,221 shares during the last quarter. Bank & Trust Co acquired a new position in Warner Bros. Discovery during the 2nd quarter worth $39,000. LRI Investments LLC acquired a new position in Warner Bros. Discovery during the 1st quarter worth $39,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $10.38 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm’s 50-day moving average price is $8.45 and its two-hundred day moving average price is $8.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations 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 company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal 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.