Cahaba Wealth Management Inc. Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cahaba Wealth Management Inc. purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,442 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thompson Investment Management Inc. boosted its stake in Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock worth $584,000 after acquiring an additional 5,081 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter worth approximately $182,000. SageView Advisory Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $129,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WBD has been the topic of several recent research reports. Macquarie decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Barclays decreased their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target 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. Moffett Nathanson decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Stock Up 0.5 %

Shares of WBD traded up $0.04 during midday trading on Friday, reaching $7.82. 16,790,728 shares of the stock were exchanged, compared to its average volume of 29,053,773. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $7.78 and its two-hundred day moving average is $7.88. The company has a market capitalization of $19.16 billion, a P/E ratio of -6.31 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same period in the previous year, the company posted ($0.51) EPS. Warner Bros. Discovery’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current year.

Warner Bros. Discovery Company 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.