Sessa Capital IM L.P. Buys 5,625,545 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 28,410,428 shares of the company’s stock after buying an additional 5,625,545 shares during the period. Warner Bros. Discovery makes up 8.6% of Sessa Capital IM L.P.’s holdings, making the stock its 4th largest holding. Sessa Capital IM L.P.’s holdings in Warner Bros. Discovery were worth $234,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management boosted its stake in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the last quarter. Commerce Bank boosted its stake in shares of Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after purchasing an additional 1,286 shares during the last quarter. GAM Holding AG grew its holdings in shares of Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after buying an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after buying an additional 1,461 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in shares of Warner Bros. Discovery by 1.4% during the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after buying an additional 1,517 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 3.3 %

NASDAQ:WBD opened at $10.28 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of -2.24 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The stock has a 50-day simple moving average of $8.26 and a 200 day simple moving average of $7.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during 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%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) EPS. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the subject of several analyst reports. Morgan Stanley cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. TD Cowen dropped their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note 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 research note on Friday, August 9th. Moffett Nathanson dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $10.55.

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.