Wittenberg Investment Management Inc. Acquires 50,782 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wittenberg Investment Management Inc. lifted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 5.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,046,933 shares of the company's stock after buying an additional 50,782 shares during the quarter. Warner Bros. Discovery makes up 2.8% of Wittenberg Investment Management Inc.'s holdings, making the stock its 9th largest position. Wittenberg Investment Management Inc.'s holdings in Warner Bros. Discovery were worth $8,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. OFI Invest Asset Management grew its position in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock valued at $27,000 after acquiring an additional 1,221 shares during the period. Commerce Bank grew its holdings in Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company's stock valued at $462,000 after purchasing an additional 1,286 shares during the period. GAM Holding AG increased its position in shares of Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company's stock valued at $3,776,000 after buying an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC raised its stake in shares of Warner Bros. Discovery by 5.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company's stock worth $234,000 after buying an additional 1,461 shares during the period. Finally, PFG Investments LLC grew its stake in Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company's stock valued at $927,000 after acquiring an additional 1,517 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Monday, October 7th. Macquarie boosted their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Wolfe Research upgraded Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research report on Monday, November 11th. Finally, Benchmark reiterated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.55.

Warner Bros. Discovery Stock Up 2.7 %

NASDAQ:WBD traded up $0.27 during mid-day trading on Monday, hitting $10.38. The company had a trading volume of 14,922,018 shares, compared to its average volume of 29,449,707. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The business has a fifty day simple moving average of $8.34 and a 200-day simple moving average of $7.95. 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 released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates 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%. Warner Bros. Discovery's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) EPS. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Warner Bros. Discovery Company 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.