Trexquant Investment LP Acquires New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Trexquant Investment LP purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 4th quarter, Holdings Channel reports. The fund purchased 412,522 shares of the company’s stock, valued at approximately $4,694,000.

Several other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. raised its position in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after acquiring an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company raised its position in Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after acquiring an additional 2,356,665 shares during the period. Northern Trust Corp raised its position in Warner Bros. Discovery by 2.6% in the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after acquiring an additional 524,965 shares during the period. Norges Bank bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $198,916,000. Finally, Boston Partners raised its position in Warner Bros. Discovery by 9.9% in the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after acquiring an additional 1,414,952 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.06 on Thursday. Warner Bros. Discovery, Inc. has a 52 week low of $7.34 and a 52 week high of $14.76. The firm has a fifty day simple moving average of $8.31 and a two-hundred day simple moving average of $9.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the business earned $0.18 earnings per share. The business’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several recent analyst reports. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research report on Friday, May 10th. Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Wells Fargo & Company downgraded shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Finally, Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.32.

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.