Los Angeles Capital Management LLC Purchases 218,765 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Los Angeles Capital Management LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 117.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,401 shares of the company's stock after purchasing an additional 218,765 shares during the period. Los Angeles Capital Management LLC's holdings in Warner Bros. Discovery were worth $4,613,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Fortis Group Advisors LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter worth about $25,000. Peoples Bank KS acquired a new stake in Warner Bros. Discovery in the 3rd quarter worth about $27,000. Pacifica Partners Inc. raised its position in shares of Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company's stock valued at $27,000 after buying an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $28,000. Finally, Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Institutional investors own 59.95% of the company's stock.

Analysts Set New Price Targets

WBD has been the subject of several analyst reports. Macquarie lowered their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, January 22nd. Barrington Research cut their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an "outperform" rating on the stock in a research report on Monday, February 26th. Benchmark reissued a "buy" rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. JPMorgan Chase & Co. cut their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating on the stock in a research report on Monday, February 26th. Finally, Wolfe Research downgraded Warner Bros. Discovery from a "peer perform" rating to an "underperform" rating and set a $7.00 target price for the company. in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.83.

Warner Bros. Discovery Price Performance

Shares of WBD stock traded down $0.01 during trading on Monday, reaching $7.96. 29,712,299 shares of the company's stock traded hands, compared to its average volume of 27,407,674. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The firm's 50-day moving average is $8.45 and its 200 day moving average is $9.87. Warner Bros. Discovery, Inc. has a 1 year low of $7.34 and a 1 year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion for the quarter, compared to analysts' expectations of $10.34 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business's quarterly revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 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.