Hotchkis & Wiley Capital Management LLC Purchases 329,620 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hotchkis & Wiley Capital Management LLC increased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,889,437 shares of the company’s stock after buying an additional 329,620 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.85% of Warner Bros. Discovery worth $172,338,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hauser Brothers GmbH raised its holdings in shares of Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after purchasing an additional 440,000 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $1,474,000. Timber Creek Capital Management LLC raised its position in shares of Warner Bros. Discovery by 169.6% in the third quarter. Timber Creek Capital Management LLC now owns 423,638 shares of the company’s stock valued at $3,495,000 after purchasing an additional 266,495 shares during the period. PDT Partners LLC bought a new position in Warner Bros. Discovery in the third quarter valued at about $2,543,000. Finally, Public Sector Pension Investment Board raised its stake in Warner Bros. Discovery by 14.0% during the third quarter. Public Sector Pension Investment Board now owns 84,525 shares of the company’s stock worth $697,000 after buying an additional 10,400 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $10.56 on Tuesday. The stock’s 50-day simple moving average is $8.58 and its 200-day simple moving average is $8.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released 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. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) earnings per share. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays increased their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Evercore ISI reduced their target price 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. Macquarie boosted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Company 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.