Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Increased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 3,232.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,932 shares of the company’s stock after acquiring an additional 3,814 shares during the period. Exchange Traded Concepts LLC’s holdings in Warner Bros. Discovery were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Country Trust Bank raised its holdings in Warner Bros. Discovery by 76.0% during the third quarter. Country Trust Bank now owns 2,314 shares of the company’s stock valued at $25,000 after buying an additional 999 shares in the last quarter. Fortis Group Advisors LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth about $25,000. Peoples Bank KS bought a new position in shares of Warner Bros. Discovery in the third quarter worth about $27,000. Milestone Investment Advisors LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth about $28,000. Finally, Headinvest LLC bought a new position in shares of Warner Bros. Discovery in the third quarter worth about $28,000. 58.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WBD. Macquarie dropped their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. JPMorgan Chase & Co. dropped their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Citigroup dropped their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Redburn Atlantic lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 11th. Finally, Barrington Research dropped their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.24.

View Our Latest Stock Report on Warner Bros. Discovery

Warner Bros. Discovery Stock Down 3.2 %

NASDAQ WBD opened at $8.44 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average is $9.48 and its two-hundred day moving average is $10.42. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of -6.59 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $15.56.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last announced its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.34 earnings per share for the current fiscal year.

About Warner Bros. Discovery

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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