AMG National Trust Bank Buys 283,725 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AMG National Trust Bank raised its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 211.3% during the third quarter, Holdings Channel reports. The firm owned 418,014 shares of the company’s stock after buying an additional 283,725 shares during the quarter. AMG National Trust Bank’s holdings in Warner Bros. Discovery were worth $3,449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sessa Capital IM L.P. grew its holdings in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after acquiring an additional 5,100,000 shares during the period. Retirement Systems of Alabama grew its stake in Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp raised its holdings in Warner Bros. Discovery by 1,216.7% in the second 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 in the last quarter. EdgePoint Investment Group Inc. raised its holdings in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares in the last quarter. Finally, Drexel Morgan & Co. lifted its position in Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after buying an additional 2,000,000 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Evercore ISI lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $9.47 on Tuesday. The company has a 50-day moving average price of $8.10 and a 200-day moving average price of $7.88. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $23.22 billion, a P/E ratio of -2.07 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm earned ($0.17) earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Warner Bros. Discovery 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.