Signaturefd LLC Boosts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Signaturefd LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.9% in the third quarter, HoldingsChannel reports. The firm owned 21,604 shares of the company’s stock after buying an additional 4,849 shares during the period. Signaturefd LLC’s holdings in Warner Bros. Discovery were worth $178,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC boosted its holdings in Warner Bros. Discovery by 14.9% in the 1st quarter. Park Avenue Securities LLC now owns 40,111 shares of the company’s stock valued at $350,000 after purchasing an additional 5,212 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at approximately $123,000. Brookstone Capital Management grew its position in Warner Bros. Discovery by 6.2% in the first quarter. Brookstone Capital Management now owns 28,466 shares of the company’s stock worth $249,000 after acquiring an additional 1,657 shares during the period. Miracle Mile Advisors LLC increased its stake in Warner Bros. Discovery by 27.4% during the first quarter. Miracle Mile Advisors LLC now owns 32,912 shares of the company’s stock worth $287,000 after acquiring an additional 7,079 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Warner Bros. Discovery by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,868,663 shares of the company’s stock valued at $42,503,000 after purchasing an additional 19,083 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $7.60 on Monday. The business has a 50 day moving average price of $7.82 and a 200 day moving average price of $7.83. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of -6.13 and a beta of 1.48. 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 issued its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the previous year, the company posted ($0.51) EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WBD. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Macquarie cut their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Company 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.