R Squared Ltd Buys Shares of 35,889 Warner Bros. Discovery, Inc. $WBD

R Squared Ltd bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,889 shares of the company’s stock, valued at approximately $986,000. Warner Bros. Discovery accounts for approximately 0.5% of R Squared Ltd’s investment portfolio, making the stock its 26th largest holding.

A number of other large investors also recently modified their holdings of WBD. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $30,000. Rakuten Securities Inc. lifted its holdings in shares of Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at approximately $33,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

WBD traded up $0.07 during trading hours on Tuesday, hitting $26.18. The company’s stock had a trading volume of 2,472,726 shares, compared to its average volume of 23,035,219. The company has a 50-day simple moving average of $26.89 and a 200 day simple moving average of $27.59. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $65.65 billion, a PE ratio of -37.42 and a beta of 1.54. Warner Bros. Discovery, Inc. has a fifty-two week low of $10.76 and a fifty-two week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WBD. Wells Fargo & Company started coverage on Warner Bros. Discovery in a research note on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective for the company. Zacks Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a report on Monday, June 1st. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. UBS Group increased their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.