AMG National Trust Bank Acquires 52,228 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AMG National Trust Bank raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,289 shares of the company’s stock after buying an additional 52,228 shares during the quarter. AMG National Trust Bank’s holdings in Warner Bros. Discovery were worth $999,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the second quarter worth about $26,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $27,000. OFI Invest Asset Management increased its position in shares of Warner Bros. Discovery by 45.9% during the second 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. First Financial Corp IN raised its stake in shares of Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after purchasing an additional 2,887 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. bought a new position in Warner Bros. Discovery in the fourth quarter worth $33,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Up 7.3 %

Shares of WBD traded up $0.55 during trading hours on Friday, hitting $8.05. 30,980,083 shares of the stock traded hands, compared to its average volume of 29,104,916. The business has a fifty day moving average of $7.62 and a 200-day moving average of $8.18. The firm has a market capitalization of $19.73 billion, a PE ratio of -6.49 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $13.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WBD. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Friday, May 10th. TD Cowen decreased 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. Evercore ISI dropped their target price on 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, The Goldman Sachs Group cut their target price on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.