LRI Investments LLC Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

LRI Investments LLC bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,821 shares of the company’s stock, valued at approximately $74,000.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Warner Bros. Discovery by 0.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 501,887 shares of the company’s stock worth $5,711,000 after acquiring an additional 3,754 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Warner Bros. Discovery by 4.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after purchasing an additional 36,405 shares in the last quarter. Schechter Investment Advisors LLC increased its stake in Warner Bros. Discovery by 47.4% in the 4th quarter. Schechter Investment Advisors LLC now owns 25,178 shares of the company’s stock valued at $287,000 after buying an additional 8,093 shares during the period. Blue Trust Inc. lifted its position in Warner Bros. Discovery by 20.8% in the 4th quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock worth $68,000 after buying an additional 1,076 shares in the last quarter. Finally, Caprock Group LLC increased its position in Warner Bros. Discovery by 27.1% during the fourth quarter. Caprock Group LLC now owns 18,689 shares of the company’s stock worth $213,000 after buying an additional 3,983 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

WBD traded up $0.32 during trading on Friday, hitting $8.31. The company’s stock had a trading volume of 22,906,845 shares, compared to its average volume of 27,455,124. The firm’s 50 day moving average price is $7.73 and its two-hundred day moving average price is $8.58. 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 market capitalization of $20.36 billion, a price-to-earnings ratio of -6.70 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 12 month low of $6.94 and a 12 month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Macquarie lowered Warner Bros. Discovery from an “outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research note on Thursday. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research note on Tuesday, April 23rd. Sanford C. Bernstein cut their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a research report on Friday, May 10th. Finally, The Goldman Sachs Group started coverage on shares of Warner Bros. Discovery in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 target price for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.87.

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.