Cromwell Holdings LLC Buys Shares of 7,385 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cromwell Holdings LLC purchased a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 7,385 shares of the company’s stock, valued at approximately $61,000.

Several other institutional investors have also modified their holdings of WBD. OFI Invest Asset Management boosted its stake in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the period. GAM Holding AG raised 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 valued at $3,776,000 after buying an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC boosted its position in shares of Warner Bros. Discovery by 5.4% during the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after buying an additional 1,461 shares during the period. Wellington Shields Capital Management LLC grew its holdings in Warner Bros. Discovery by 38.9% in the 1st quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock worth $46,000 after buying an additional 1,488 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in Warner Bros. Discovery by 13.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after acquiring an additional 1,565 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on WBD shares. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Barclays dropped their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $10.66.

Warner Bros. Discovery Price Performance

WBD stock opened at $7.60 on Friday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a 50-day moving average of $7.82 and a two-hundred day moving average of $7.84. The firm has a market capitalization of $18.62 billion, a PE ratio of -6.13 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter last year, the company posted ($0.51) EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 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.