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

Cromwell Holdings LLC acquired a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,385 shares of the company’s stock, valued at approximately $61,000.

Several other large investors have also modified their holdings of the stock. Sessa Capital IM L.P. raised its holdings in shares of Warner Bros. Discovery by 28.8% in the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after purchasing an additional 5,100,000 shares during the period. Retirement Systems of Alabama raised its holdings in Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after buying an additional 3,826,715 shares during the period. Mackenzie Financial Corp lifted its position in Warner Bros. Discovery by 1,216.7% during the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after buying an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. increased its position in shares of Warner Bros. Discovery by 97.6% in the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock worth $40,162,000 after acquiring an additional 2,272,245 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $7.60 on Friday. The company has a market capitalization of $18.62 billion, a price-to-earnings ratio of -6.13 and a beta of 1.48. The business has a 50 day simple moving average of $7.82 and a 200-day simple moving average of $7.84. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period last year, the firm posted ($0.51) earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WBD shares. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Macquarie lowered their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, TD Cowen reduced their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.66.

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.