Worldquant Millennium Advisors LLC Acquires 1,793,404 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Worldquant Millennium Advisors LLC boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 110.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,422,929 shares of the company’s stock after purchasing an additional 1,793,404 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Warner Bros. Discovery were worth $28,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers grew its position in Warner Bros. Discovery by 356.6% during the first quarter. Cetera Investment Advisers now owns 498,545 shares of the company’s stock worth $4,352,000 after buying an additional 389,366 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Warner Bros. Discovery by 26.5% during the first quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock valued at $780,000 after purchasing an additional 18,699 shares during the period. Czech National Bank raised its stake in shares of Warner Bros. Discovery by 8.8% in the second quarter. Czech National Bank now owns 424,906 shares of the company’s stock valued at $3,161,000 after purchasing an additional 34,454 shares in the last quarter. Nepsis Inc. boosted its stake in Warner Bros. Discovery by 19.7% during the second quarter. Nepsis Inc. now owns 1,432,766 shares of the company’s stock worth $10,660,000 after buying an additional 236,152 shares in the last quarter. Finally, M&G Plc grew its stake in shares of Warner Bros. Discovery by 5.1% in the 2nd quarter. M&G Plc now owns 613,829 shares of the company’s stock valued at $4,297,000 after purchasing an additional 29,539 shares during the period. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on WBD shares. 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 research note on Friday, November 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Price Performance

WBD opened at $10.66 on Friday. The stock has a market cap of $26.15 billion, a P/E ratio of -2.33 and a beta of 1.52. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $8.77 and a 200 day simple moving average of $8.11.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the company posted ($0.17) EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS 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.