Crossingbridge Advisors LLC Grows Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crossingbridge Advisors LLC lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,000 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. Crossingbridge Advisors LLC’s holdings in Warner Bros. Discovery were worth $536,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Family Firm Inc. bought a new stake in Warner Bros. Discovery in the second quarter worth $26,000. OFI Invest Asset Management boosted its holdings in Warner Bros. Discovery by 45.9% during the 2nd 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 period. LRI Investments LLC bought a new position in Warner Bros. Discovery during the 1st quarter worth approximately $39,000. Bank & Trust Co purchased a new position in Warner Bros. Discovery in the 2nd quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery in the third quarter valued at approximately $41,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 2.9 %

Shares of Warner Bros. Discovery stock opened at $10.40 on Tuesday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The company has a 50-day moving average of $8.34 and a 200 day moving average of $7.95. 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 (NASDAQ:WBD) last announced its 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 during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Moffett Nathanson dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.