Silverlake Wealth Management LLC Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Silverlake Wealth Management LLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,234 shares of the company’s stock after purchasing an additional 2,189 shares during the period. Silverlake Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $101,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $26,000. Crewe Advisors LLC bought a new stake in Warner Bros. Discovery during the first quarter worth approximately $27,000. OFI Invest Asset Management raised its position in Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the period. First Financial Corp IN lifted its stake 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 valued at $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter worth approximately $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 0.3 %

Shares of WBD stock opened at $7.52 on Friday. The stock’s fifty day moving average price is $7.74 and its 200 day moving average price is $7.91. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market cap of $18.43 billion, a price-to-earnings ratio of -6.06 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the previous year, the business earned ($0.51) earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday. Moffett Nathanson reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.66.

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.