Crewe Advisors LLC Buys Shares of 3,134 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,134 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Warner Bros. Discovery in the 4th quarter valued at about $198,916,000. The Manufacturers Life Insurance Company lifted its stake in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after purchasing an additional 3,710,343 shares during the period. Drexel Morgan & Co. boosted its holdings in shares of Warner Bros. Discovery by 97.6% during the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock worth $40,162,000 after purchasing an additional 2,272,245 shares during the last quarter. ING Groep NV grew its position in shares of Warner Bros. Discovery by 3,010.0% in the fourth quarter. ING Groep NV now owns 1,538,503 shares of the company’s stock valued at $17,508,000 after purchasing an additional 1,489,034 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its position in Warner Bros. Discovery by 42.2% during the first quarter. Coronation Fund Managers Ltd. now owns 4,901,506 shares of the company’s stock worth $42,790,000 after buying an additional 1,455,171 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 5.7 %

WBD stock traded down $0.48 during midday trading on Thursday, hitting $7.99. 31,959,234 shares of the company’s stock were exchanged, compared to its average volume of 28,039,424. Warner Bros. Discovery, Inc. has a 12-month low of $6.94 and a 12-month high of $14.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of -6.43 and a beta of 1.49. The firm has a 50 day moving average price of $7.73 and a 200-day moving average price of $8.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WBD. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday. Sanford C. Bernstein dropped their price objective on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a report on Tuesday, April 23rd. Macquarie lowered Warner Bros. Discovery from an “outperform” rating to a “neutral” rating and set a $9.00 price target for the company. in a research note on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $11.87.

About Warner Bros. Discovery

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.