Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Acquired by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 254,321 shares of the company’s stock after purchasing an additional 19,012 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Warner Bros. Discovery were worth $2,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in WBD. Family Firm Inc. acquired a new position in shares of Warner Bros. Discovery during the 2nd quarter worth $26,000. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery during the first quarter worth about $27,000. OFI Invest Asset Management increased its holdings 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 in the last quarter. Transcendent Capital Group LLC lifted its position in shares of Warner Bros. Discovery by 665.4% during the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after acquiring an additional 3,480 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.6 %

NASDAQ:WBD traded down $0.05 during mid-day trading on Monday, hitting $8.18. The company had a trading volume of 7,586,600 shares, compared to its average volume of 28,720,211. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The business has a fifty day simple moving average of $7.83 and a 200-day simple moving average of $7.82. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of -1.71 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results 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 return on equity of 27.28% and a negative net margin of 29.47%. The company had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. The business’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm posted ($0.51) earnings per share. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WBD shares. Wells Fargo & Company decreased their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Finally, Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus target price 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.