Warner Bros. Discovery, Inc. (NASDAQ:WBD) is Sessa Capital IM L.P.’s 4th Largest Position

Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,410,428 shares of the company’s stock after buying an additional 5,625,545 shares during the quarter. Warner Bros. Discovery makes up approximately 8.6% of Sessa Capital IM L.P.’s portfolio, making the stock its 4th largest holding. Sessa Capital IM L.P. owned approximately 1.16% of Warner Bros. Discovery worth $234,386,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WBD. EdgePoint Investment Group Inc. boosted its position in Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after acquiring an additional 235,192 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after purchasing an additional 687,612 shares during the period. Bank of New York Mellon Corp boosted its holdings in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the last quarter. Yacktman Asset Management LP grew its stake in shares of Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after buying an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Warner Bros. Discovery by 23.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after buying an additional 1,452,913 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.28 on Friday. 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 has a market cap of $25.22 billion, a PE ratio of -2.24 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company’s 50 day simple moving average is $8.26 and its 200-day simple moving average is $7.92.

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

Analyst Ratings Changes

A number of research analysts have commented on WBD shares. Wells Fargo & Company lowered their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley cut their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Raymond James increased their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.55.

About Warner Bros. Discovery

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.