Los Angeles Capital Management LLC Has $4.61 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Los Angeles Capital Management LLC grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 117.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 405,401 shares of the company’s stock after purchasing an additional 218,765 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Warner Bros. Discovery were worth $4,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Natixis Advisors L.P. increased its position in shares of Warner Bros. Discovery by 17.8% during the fourth quarter. Natixis Advisors L.P. now owns 616,320 shares of the company’s stock worth $7,013,000 after acquiring an additional 93,161 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Warner Bros. Discovery by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,839,596 shares of the company’s stock valued at $20,935,000 after purchasing an additional 187,508 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Warner Bros. Discovery by 121.7% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 85,443 shares of the company’s stock worth $972,000 after buying an additional 46,909 shares during the period. First Trust Direct Indexing L.P. bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $392,000. Finally, New York Life Investment Management LLC raised its position in Warner Bros. Discovery by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 347,767 shares of the company’s stock valued at $3,958,000 after buying an additional 2,306 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WBD has been the subject of several research reports. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research note on Tuesday, April 23rd. Barclays cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th. Barrington Research decreased their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Citigroup dropped their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Finally, Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $7.97 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50-day moving average of $8.45 and a 200-day moving average of $9.87. Warner Bros. Discovery, Inc. has a 52-week low of $7.34 and a 52-week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion for 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 company’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.