Ingalls & Snyder LLC Boosts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ingalls & Snyder LLC increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 224.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,084 shares of the company's stock after acquiring an additional 93,392 shares during the quarter. Ingalls & Snyder LLC's holdings in Warner Bros. Discovery were worth $1,005,000 as of its most recent filing with the Securities & Exchange Commission.

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Several other large investors have also added to or reduced their stakes in the stock. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $26,000. Crewe Advisors LLC purchased a new position in Warner Bros. Discovery during the first quarter valued at $27,000. OFI Invest Asset Management boosted its holdings 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 buying an additional 1,221 shares in the last quarter. First Financial Corp IN grew its position in shares of Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company's stock worth $30,000 after buying an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. bought a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $33,000. Institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. KeyCorp raised shares of Warner Bros. Discovery from a "sector weight" rating to an "overweight" rating and set a $11.00 price objective on the stock in a research note on Friday, May 10th. Barrington Research reissued an "outperform" rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Barclays reduced their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an "equal weight" rating for the company in a research report on Thursday, August 8th. TD Cowen dropped their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of "Hold" and a consensus target price of $11.25.

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Get Our Latest Stock Analysis on Warner Bros. Discovery

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded up $0.11 during mid-day trading on Friday, hitting $7.84. The stock had a trading volume of 25,025,142 shares, compared to its average volume of 29,095,063. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $13.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $19.21 billion, a P/E ratio of -6.32 and a beta of 1.49. The firm's 50 day moving average is $7.71 and its 200 day moving average is $8.13.

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Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period last year, the company earned ($0.51) EPS. The business's revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.44 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.

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