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

Empirical Finance LLC lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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.

Several other institutional investors and hedge funds have also recently modified their holdings of WBD. Family Firm Inc. purchased a new position in Warner Bros. Discovery during the second quarter worth about $26,000. Crewe Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. OFI Invest Asset Management lifted its holdings 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 acquiring an additional 1,221 shares during the last quarter. Transcendent Capital Group LLC grew its position in Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares during the period. Finally, LRI Investments LLC acquired a new stake in Warner Bros. Discovery during the first quarter worth $39,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Evercore ISI reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Barrington Research restated an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $9.22 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $8.10 and its 200-day simple moving average is $7.88. The firm has a market capitalization of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the firm earned ($0.17) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 3.6% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Warner Bros. Discovery 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.