Welch Group LLC Invests $84,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Welch Group LLC bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,334 shares of the company’s stock, valued at approximately $84,000.

A number of other institutional investors and hedge funds have also modified their holdings of WBD. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery during the 1st quarter valued at about $27,000. First Financial Corp IN grew its position in shares of Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after purchasing an additional 2,887 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter worth approximately $33,000. Finally, Rakuten Securities Inc. bought a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $35,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 1.7 %

Shares of Warner Bros. Discovery stock traded up $0.12 during trading on Friday, reaching $7.36. 11,225,884 shares of the stock were exchanged, compared to its average volume of 28,923,348. The stock’s fifty day moving average is $7.64 and its 200 day moving average is $8.30. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.31. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of -5.94 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the topic of a number of recent research reports. TD Cowen lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Macquarie dropped their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $10.00 to $8.00 in a report on Tuesday. Finally, Morgan Stanley cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.25.

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.