Readystate Asset Management LP Has $9.52 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Readystate Asset Management LP lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.2% during the 4th quarter, Holdings Channel reports. The firm owned 836,893 shares of the company’s stock after purchasing an additional 184,052 shares during the quarter. Readystate Asset Management LP’s holdings in Warner Bros. Discovery were worth $9,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Warner Bros. Discovery by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,967,297 shares of the company’s stock valued at $33,769,000 after purchasing an additional 73,912 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Warner Bros. Discovery by 148.9% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 893,188 shares of the company’s stock worth $10,164,000 after acquiring an additional 534,355 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Warner Bros. Discovery by 2.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 923,225 shares of the company’s stock worth $10,506,000 after acquiring an additional 25,225 shares during the period. Townsquare Capital LLC lifted its stake in Warner Bros. Discovery by 29.8% in the 4th quarter. Townsquare Capital LLC now owns 18,522 shares of the company’s stock valued at $211,000 after purchasing an additional 4,249 shares during the last quarter. Finally, Virtue Capital Management LLC acquired a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $123,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of several analyst reports. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Thursday, January 11th. Barclays reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Finally, Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.24.

Warner Bros. Discovery Stock Up 1.1 %

Warner Bros. Discovery stock traded up $0.09 during midday trading on Wednesday, hitting $8.23. 19,757,184 shares of the stock were exchanged, compared to its average volume of 26,796,195. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The stock has a market capitalization of $20.08 billion, a price-to-earnings ratio of -6.43 and a beta of 1.51. The business’s 50-day moving average price is $8.82 and its 200-day moving average price is $10.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal 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.