Empirical Finance LLC Has $696,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Empirical Finance LLC increased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 79,751 shares of the company’s stock after buying an additional 2,713 shares during the quarter. Empirical Finance LLC’s holdings in Warner Bros. Discovery were worth $696,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Staley Capital Advisers Inc. raised its stake in Warner Bros. Discovery by 6.7% during the 1st quarter. Staley Capital Advisers Inc. now owns 1,272,525 shares of the company’s stock worth $11,109,000 after buying an additional 79,825 shares during the period. Texas Permanent School Fund Corp raised 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 during the period. Wittenberg Investment Management Inc. raised its stake in shares of Warner Bros. Discovery by 60.4% in the 1st quarter. Wittenberg Investment Management Inc. now owns 898,178 shares of the company’s stock valued at $7,841,000 after purchasing an additional 338,050 shares during the period. Coronation Fund Managers Ltd. raised its stake in shares of Warner Bros. Discovery by 42.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 4,901,506 shares of the company’s stock valued at $42,790,000 after purchasing an additional 1,455,171 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in shares of Warner Bros. Discovery by 14.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 41,516 shares of the company’s stock valued at $362,000 after purchasing an additional 5,259 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price target on the stock. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research note on Tuesday, April 23rd. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a research note on Friday, May 10th. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Finally, Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their target price for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $12.82.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.02 during midday trading on Friday, hitting $7.40. 17,993,539 shares of the company were exchanged, compared to its average volume of 27,654,412. The firm has a market capitalization of $18.13 billion, a P/E ratio of -6.01 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $7.70 and its two-hundred day moving average price is $8.82. Warner Bros. Discovery, Inc. has a 52 week low of $6.94 and a 52 week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current 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.