BBR Partners LLC Acquires 39,238 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

BBR Partners LLC boosted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 259.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,363 shares of the company’s stock after purchasing an additional 39,238 shares during the period. BBR Partners LLC’s holdings in Warner Bros. Discovery were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WBD. OFI Invest Asset Management lifted its stake in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the last quarter. Commerce Bank lifted its stake in Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock valued at $462,000 after acquiring an additional 1,286 shares during the last quarter. GAM Holding AG lifted its stake in Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after acquiring an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC lifted its stake in Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after acquiring an additional 1,461 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in 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 acquiring an additional 1,517 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 2.7 %

Shares of Warner Bros. Discovery stock opened at $10.38 on Thursday. The firm has a market capitalization of $25.46 billion, a PE ratio of -2.27 and a beta of 1.48. 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 firm’s 50 day moving average is $8.45 and its 200 day moving average is $8.00. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) EPS. The firm’s revenue was down 3.6% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WBD. 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 note on Thursday, August 8th. Barclays raised their target price 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. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $10.55.

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.