Crossingbridge Advisors LLC Raises Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crossingbridge Advisors LLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,000 shares of the company’s stock after buying an additional 15,000 shares during the quarter. Crossingbridge Advisors LLC’s holdings in Warner Bros. Discovery were worth $536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sessa Capital IM L.P. boosted its stake in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after purchasing an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after buying an additional 235,192 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after buying an additional 687,612 shares in the last quarter. Bank of New York Mellon Corp raised its position in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after buying an additional 719,869 shares during the last quarter. Finally, Yacktman Asset Management LP lifted its stake in Warner Bros. Discovery by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after acquiring an additional 100,565 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.9 %

NASDAQ WBD opened at $10.40 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $25.51 billion, a PE ratio of -2.27 and a beta of 1.48. The stock’s 50 day moving average is $8.34 and its 200 day moving average is $7.95.

Warner Bros. Discovery (NASDAQ:WBD) last released 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. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on WBD. Barclays boosted their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note 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. Finally, Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.