Brooklyn Investment Group Invests $51,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brooklyn Investment Group acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 3rd quarter, Holdings Channel reports. The fund acquired 6,180 shares of the company’s stock, valued at approximately $51,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares during the last quarter. Retirement Systems of Alabama lifted its position in Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after buying an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp lifted its position in Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares during the last quarter. Drexel Morgan & Co. lifted its position in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC bought a new stake in Warner Bros. Discovery in the 2nd quarter worth approximately $14,760,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.48 on Friday. The stock has a fifty day moving average of $8.54 and a 200 day moving average of $8.03. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of -2.29 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent research reports. Raymond James boosted their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 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 research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Macquarie increased their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $10.55.

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.