Warner Bros. Discovery, Inc. (NASDAQ:WBD) Holdings Boosted by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,046,933 shares of the company’s stock after buying an additional 50,782 shares during the quarter. Warner Bros. Discovery accounts for 2.8% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 9th largest holding. Wittenberg Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $8,637,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WBD. Principal Financial Group Inc. grew its holdings in 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 worth $21,281,000 after acquiring an additional 78,653 shares during the period. Private Management Group Inc. boosted its position in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after purchasing an additional 1,886,868 shares in the last quarter. Mackenzie Financial Corp grew its stake 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 purchasing an additional 2,780,986 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after purchasing an additional 163,295 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Warner Bros. Discovery by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after purchasing an additional 105,321 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 1.2 %

Shares of NASDAQ:WBD opened at $10.11 on Monday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The stock’s 50-day moving average price is $8.34 and its two-hundred day moving average price is $7.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WBD. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Wells Fargo & Company decreased their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, Moffett Nathanson dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target 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.