Applied Finance Capital Management LLC Has $57,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Applied Finance Capital Management LLC decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 91.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,853 shares of the company's stock after selling 70,611 shares during the period. Applied Finance Capital Management LLC's holdings in Warner Bros. Discovery were worth $57,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WBD. Texas Permanent School Fund Corp boosted its stake in shares of Warner Bros. Discovery by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 458,382 shares of the company's stock valued at $4,002,000 after purchasing an additional 5,830 shares in the last quarter. Empirical Finance LLC boosted its position in Warner Bros. Discovery by 3.5% in the first quarter. Empirical Finance LLC now owns 79,751 shares of the company's stock valued at $696,000 after buying an additional 2,713 shares in the last quarter. Quantbot Technologies LP bought a new stake in Warner Bros. Discovery during the first quarter worth about $457,000. Empowered Funds LLC grew its stake in Warner Bros. Discovery by 124.5% during the first quarter. Empowered Funds LLC now owns 52,891 shares of the company's stock worth $462,000 after buying an additional 29,330 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Warner Bros. Discovery by 1.0% during the first quarter. Oppenheimer & Co. Inc. now owns 380,578 shares of the company's stock worth $3,322,000 after buying an additional 3,818 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on WBD shares. Deutsche Bank Aktiengesellschaft decreased their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company lowered their target price on 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. The Goldman Sachs Group lifted their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a "neutral" rating in a report on Monday, October 7th. Moffett Nathanson decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen dropped their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $10.55.

Warner Bros. Discovery Trading Down 2.0 %

Shares of NASDAQ:WBD traded down $0.19 during mid-day trading on Friday, reaching $9.18. The stock had a trading volume of 52,663,437 shares, compared to its average volume of 24,571,940. The firm has a 50 day simple moving average of $7.90 and a two-hundred day simple moving average of $7.83. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market cap of $22.51 billion, a PE ratio of -1.91 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the business posted ($0.17) EPS. The firm's revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.55 EPS 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.