Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Bought by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,046,933 shares of the company’s stock after purchasing an additional 50,782 shares during the quarter. Warner Bros. Discovery comprises approximately 2.8% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 9th biggest position. Wittenberg Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $8,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Firm Inc. acquired a new position in Warner Bros. Discovery during the second quarter worth $26,000. OFI Invest Asset Management lifted its stake in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. LRI Investments LLC acquired a new position in Warner Bros. Discovery in the 1st quarter valued at about $39,000. Bank & Trust Co acquired a new position in Warner Bros. Discovery in the 2nd quarter valued at about $39,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth about $41,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 1.2 %

WBD opened at $10.11 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business’s 50 day moving average is $8.34 and its two-hundred day moving average is $7.95.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Macquarie increased their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.