71,239 Shares in Warner Bros. Discovery, Inc. (NASDAQ:WBD) Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 71,239 shares of the company’s stock, valued at approximately $588,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $26,000. OFI Invest Asset Management lifted its position in shares of 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 acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth $39,000. Larson Financial Group LLC increased its position in shares of Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after purchasing an additional 1,754 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at about $41,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.7 %

Shares of NASDAQ:WBD opened at $10.38 on Thursday. The firm has a market cap of $25.46 billion, a P/E ratio of -2.27 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The business has a fifty day simple moving average of $8.41 and a 200 day simple moving average of $7.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WBD. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Rosenblatt Securities restated a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Macquarie upped their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. TD Cowen lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.