RFG Advisory LLC Invests $676,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

RFG Advisory LLC purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,022 shares of the company’s stock, valued at approximately $676,000.

Several other hedge funds have also added to or reduced their stakes in WBD. Norges Bank bought a new stake in Warner Bros. Discovery in the fourth quarter worth $362,210,000. Contrarius Group Holdings Ltd bought a new stake in Warner Bros. Discovery in the fourth quarter worth $168,930,000. FMR LLC lifted its stake in Warner Bros. Discovery by 478.5% in the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Slate Path Capital LP lifted its stake in Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. Finally, Sachem Head Capital Management LP bought a new stake in Warner Bros. Discovery in the fourth quarter worth $64,847,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $9.82 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $8.86 and its 200 day moving average is $9.94. The stock has a market capitalization of $24.11 billion, a P/E ratio of -2.14, a P/E/G ratio of 8.64 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the firm earned ($0.40) EPS. The company’s revenue was down 9.8% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on WBD. Raymond James lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Barrington Research restated an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, May 13th. Wells Fargo & Company boosted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Finally, Barclays boosted their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

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.