Oppenheimer Asset Management Inc. Has $642,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer Asset Management Inc. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 73.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,860 shares of the company's stock after selling 218,511 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Warner Bros. Discovery were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBD. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,609,542 shares of the company's stock valued at $38,029,000 after acquiring an additional 106,372 shares during the last quarter. Apollon Wealth Management LLC grew its stake in Warner Bros. Discovery by 96.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company's stock worth $443,000 after buying an additional 26,421 shares during the last quarter. Versor Investments LP bought a new position in Warner Bros. Discovery during the 3rd quarter worth $93,000. Mesirow Financial Investment Management Inc. grew its stake in Warner Bros. Discovery by 109.9% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 32,830 shares of the company's stock worth $271,000 after buying an additional 17,187 shares during the last quarter. Finally, Atria Investments Inc boosted its position in Warner Bros. Discovery by 31.9% during the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company's stock worth $809,000 after acquiring an additional 23,697 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD traded up $0.45 during mid-day trading on Wednesday, hitting $9.95. 42,860,588 shares of the company's stock traded hands, compared to its average volume of 29,481,434. The firm has a 50 day moving average of $8.26 and a two-hundred day moving average of $7.92. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a market capitalization of $24.41 billion, a price-to-earnings ratio of -2.17 and a beta of 1.48. 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 (NASDAQ:WBD - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the company earned ($0.17) EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Morgan Stanley cut their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a report on Monday, July 29th. Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft cut their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, Barrington Research restated an "outperform" rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from 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.