Ingalls & Snyder LLC Increases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ingalls & Snyder LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 42.3% during the third quarter, Holdings Channel.com reports. The fund owned 192,228 shares of the company’s stock after purchasing an additional 57,144 shares during the quarter. Ingalls & Snyder LLC’s holdings in Warner Bros. Discovery were worth $1,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Principal Financial Group Inc. raised its holdings in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Private Management Group Inc. raised its stake in Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after purchasing an additional 1,886,868 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at $588,000. Natixis Advisors LLC boosted its stake in Warner Bros. Discovery by 22.7% during the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after purchasing an additional 52,051 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.1 %

NASDAQ:WBD opened at $10.55 on Wednesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock’s fifty day moving average is $8.63 and its two-hundred day moving average is $8.06. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of -2.30 and a beta of 1.52. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (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 analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WBD shares. Moffett Nathanson lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Macquarie upped their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.55.

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.