R Squared Ltd Invests $986,000 in Warner Bros. Discovery, Inc. $WBD

R Squared Ltd purchased a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,889 shares of the company’s stock, valued at approximately $986,000. Warner Bros. Discovery accounts for about 0.5% of R Squared Ltd’s holdings, making the stock its 26th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the 4th quarter valued at $1,123,807,000. Jericho Capital Asset Management L.P. boosted its position in Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock worth $685,413,000 after purchasing an additional 18,291,865 shares during the period. Duquesne Family Office LLC acquired a new stake in Warner Bros. Discovery in the 2nd quarter valued at $74,916,000. Amundi increased its holdings in Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock valued at $296,189,000 after purchasing an additional 5,798,592 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Warner Bros. Discovery in the third quarter valued at about $100,135,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 0.2%

Shares of WBD stock traded up $0.07 during trading hours on Tuesday, hitting $26.18. 2,472,726 shares of the company were exchanged, compared to its average volume of 23,035,219. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a one year low of $10.76 and a one year high of $30.00. The business’s 50-day simple moving average is $26.89 and its two-hundred day simple moving average is $27.59. The stock has a market capitalization of $65.65 billion, a price-to-earnings ratio of -37.42 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group boosted their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Wells Fargo & Company began coverage on Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price on the stock. Seaport Research Partners raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Monday, June 29th. Finally, Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.