Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 76,389 shares of the company’s stock after acquiring an additional 1,711 shares during the period. Empirical Finance LLC’s holdings in Warner Bros. Discovery were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in WBD. OFI Invest Asset Management lifted its stake in Warner Bros. Discovery by 45.9% in the second 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 during the last quarter. GAM Holding AG raised its position in Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after purchasing an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC boosted its stake in 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 purchasing an additional 1,461 shares during the period. PFG Investments LLC grew its position in Warner Bros. Discovery by 1.4% during the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its stake in Warner Bros. Discovery by 13.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after purchasing an additional 1,565 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 6.5 %

WBD opened at $9.22 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year 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) last released 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 net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent research reports. Barrington Research reiterated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. TD Cowen lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.