Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.2% during the 2nd quarter, Holdings Channel reports. The firm owned 230,127 shares of the company’s stock after purchasing an additional 2,700 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Warner Bros. Discovery were worth $1,712,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Welch Group LLC acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at about $84,000. Cigna Investments Inc. New boosted its position in Warner Bros. Discovery by 6.9% during the second quarter. Cigna Investments Inc. New now owns 25,465 shares of the company’s stock worth $190,000 after acquiring an additional 1,654 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in Warner Bros. Discovery by 18.8% during the second quarter. 180 Wealth Advisors LLC now owns 68,347 shares of the company’s stock worth $504,000 after acquiring an additional 10,826 shares during the last quarter. Country Club Bank boosted its position in Warner Bros. Discovery by 143.9% during the second quarter. Country Club Bank now owns 355,138 shares of the company’s stock worth $2,610,000 after acquiring an additional 209,556 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Warner Bros. Discovery by 1,063.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 438,792 shares of the company’s stock worth $3,265,000 after acquiring an additional 401,079 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WBD. Macquarie lowered their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a research report on Friday, May 10th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $10.00 to $8.00 in a research report on Tuesday. Finally, Wells Fargo & Company decreased their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.25.

Warner Bros. Discovery Stock Up 2.3 %

WBD traded up $0.17 during trading hours on Friday, hitting $7.41. 34,170,164 shares of the company’s stock were exchanged, compared to its average volume of 29,069,777. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $13.31. The firm has a 50 day moving average of $7.64 and a 200 day moving average of $8.30. The firm has a market cap of $18.16 billion, a P/E ratio of -5.94 and a beta of 1.49. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the previous year, the company earned ($0.51) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 6.2% on a year-over-year basis. Analysts predict that Warner Bros. Discovery, Inc. will post -0.44 EPS for the current fiscal year.

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.