Cahaba Wealth Management Inc. Acquires New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cahaba Wealth Management Inc. acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 10,442 shares of the company’s stock, valued at approximately $86,000.

Other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management raised its stake 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 buying an additional 1,221 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in Warner Bros. Discovery by 38.9% in the first quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock valued at $46,000 after buying an additional 1,488 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in Warner Bros. Discovery by 13.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after buying an additional 1,565 shares during the last quarter. Xponance Inc. raised its stake in Warner Bros. Discovery by 0.5% in the second quarter. Xponance Inc. now owns 316,739 shares of the company’s stock valued at $2,357,000 after buying an additional 1,614 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Warner Bros. Discovery by 5.6% in the third quarter. V Square Quantitative Management LLC now owns 31,243 shares of the company’s stock valued at $258,000 after buying an additional 1,643 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD traded up $0.04 during trading on Friday, hitting $7.82. The company’s stock had a trading volume of 16,790,728 shares, compared to its average volume of 29,053,773. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The business’s fifty day simple moving average is $7.78 and its 200 day simple moving average is $7.88. The firm has a market capitalization of $19.16 billion, a price-to-earnings ratio of -6.31 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the previous year, the business posted ($0.51) earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Moffett Nathanson reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, TD Cowen reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $10.66.

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.