Iridian Asset Management LLC CT Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Iridian Asset Management LLC CT raised its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 572,923 shares of the company's stock after buying an additional 124,139 shares during the period. Warner Bros. Discovery comprises about 1.9% of Iridian Asset Management LLC CT's portfolio, making the stock its 17th biggest position. Iridian Asset Management LLC CT's holdings in Warner Bros. Discovery were worth $6,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Colonial Trust Advisors raised its stake in Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after buying an additional 996 shares during the period. Graney & King LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $28,000. North Capital Inc. bought a new position in shares of Warner Bros. Discovery in the 1st quarter worth $28,000. Briaud Financial Planning Inc grew its position in Warner Bros. Discovery by 258.1% in the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock traded up $0.08 during trading hours on Wednesday, reaching $11.49. The company had a trading volume of 54,766,673 shares, compared to its average volume of 36,686,564. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The business has a fifty day simple moving average of $9.94 and a 200 day simple moving average of $9.95.

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. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of a number of analyst reports. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 9th. Barclays raised their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday. Morgan Stanley decreased their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. UBS Group raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.41.

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.