AMG National Trust Bank Acquires 283,725 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AMG National Trust Bank increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 211.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 418,014 shares of the company's stock after acquiring an additional 283,725 shares during the period. AMG National Trust Bank's holdings in Warner Bros. Discovery were worth $3,449,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in WBD. Swiss National Bank lifted its holdings in shares of Warner Bros. Discovery by 0.7% during the 3rd quarter. Swiss National Bank now owns 6,909,427 shares of the company's stock valued at $57,003,000 after buying an additional 47,300 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Warner Bros. Discovery by 22.7% during the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company's stock worth $2,318,000 after purchasing an additional 52,051 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Warner Bros. Discovery by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 58,354 shares of the company's stock valued at $481,000 after purchasing an additional 2,901 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Warner Bros. Discovery by 2.3% in the third quarter. Empirical Finance LLC now owns 76,389 shares of the company's stock worth $630,000 after buying an additional 1,711 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Warner Bros. Discovery by 5.8% in the third quarter. CIBC Asset Management Inc now owns 735,025 shares of the company's stock valued at $6,064,000 after purchasing an additional 40,211 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, July 29th. Benchmark reiterated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barclays lifted their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Finally, Moffett Nathanson lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.55.

Warner Bros. Discovery Trading Up 0.8 %

NASDAQ:WBD traded up $0.08 during mid-day trading on Tuesday, hitting $9.55. The company had a trading volume of 19,297,061 shares, compared to its average volume of 29,361,240. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business's fifty day moving average is $8.10 and its two-hundred day moving average is $7.88.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

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.