Readystate Asset Management LP Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Readystate Asset Management LP lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 836,893 shares of the company’s stock after purchasing an additional 184,052 shares during the quarter. Readystate Asset Management LP’s holdings in Warner Bros. Discovery were worth $9,524,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its holdings in Warner Bros. Discovery by 15.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after purchasing an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Warner Bros. Discovery by 39.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock valued at $4,594,000 after buying an additional 120,586 shares during the last quarter. New South Capital Management Inc. boosted its stake in shares of Warner Bros. Discovery by 21.1% during the 3rd quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock valued at $44,334,000 after buying an additional 711,820 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Warner Bros. Discovery by 4.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after purchasing an additional 36,405 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new position in Warner Bros. Discovery during the fourth quarter worth $105,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WBD. Citigroup lowered their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $12.00 in a report on Monday, January 29th. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. dropped their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.24.

Warner Bros. Discovery Stock Up 1.1 %

Shares of Warner Bros. Discovery stock traded up $0.09 on Wednesday, hitting $8.23. The company had a trading volume of 19,757,184 shares, compared to its average volume of 26,796,195. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 1 year low of $8.02 and a 1 year high of $14.76. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of -6.43 and a beta of 1.51. The stock has a 50 day moving average of $8.82 and a 200-day moving average of $10.07.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 EPS. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share 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.