Barnes Dennig Private Wealth Management LLC Acquires New Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,023 shares of the company's stock, valued at approximately $719,000. Warner Bros. Discovery comprises approximately 1.1% of Barnes Dennig Private Wealth Management LLC's holdings, making the stock its 26th largest position.

Other institutional investors have also recently bought and sold shares of the company. Prudential PLC boosted its position in shares of Warner Bros. Discovery by 31.1% during the fourth quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after buying an additional 32,102 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Warner Bros. Discovery during the 4th quarter worth $4,914,000. SVB Wealth LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth $168,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $3,022,000. Finally, Hi Line Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 17.8% in the first quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock valued at $6,411,000 after purchasing an additional 90,462 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded up $0.09 during mid-day trading on Friday, hitting $11.21. The company had a trading volume of 24,154,256 shares, compared to its average volume of 36,327,678. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of -2.55 and a beta of 1.54. The stock's 50-day moving average price is $9.79 and its 200-day moving average price is $9.94.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The company had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same period in the previous year, the firm earned ($0.40) EPS. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WBD. Raymond James Financial cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, June 9th. Wells Fargo & Company raised their target price on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Barclays boosted their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.33.

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.