V Square Quantitative Management LLC Acquires 12,198 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

V Square Quantitative Management LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 70.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,600 shares of the company’s stock after acquiring an additional 12,198 shares during the quarter. V Square Quantitative Management LLC’s holdings in Warner Bros. Discovery were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WBD. The Manufacturers Life Insurance Company increased its position in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after buying an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of 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 valued at $180,016,000 after purchasing an additional 2,621,582 shares during the period. Norges Bank acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $198,916,000. Boston Partners increased its holdings in shares of Warner Bros. Discovery by 9.9% in the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after purchasing an additional 1,414,952 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Warner Bros. Discovery by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock valued at $155,594,000 after purchasing an additional 575,123 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.09 during midday trading on Wednesday, hitting $6.97. The stock had a trading volume of 17,652,867 shares, compared to its average volume of 28,899,805. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.56. The company has a market capitalization of $17.08 billion, a PE ratio of -5.69 and a beta of 1.49. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The stock has a 50 day simple moving average of $7.68 and a 200-day simple moving average of $8.32.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter in the previous year, the business posted ($0.51) EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research reports. TD Cowen cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Macquarie dropped their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday. Barrington Research reaffirmed an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Finally, Evercore ISI dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.25.

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.