Merit Financial Group LLC Purchases 2,842 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Merit Financial Group LLC raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 26,737 shares of the company’s stock after buying an additional 2,842 shares during the period. Merit Financial Group LLC’s holdings in Warner Bros. Discovery were worth $287,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of WBD. Norges Bank acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $362,210,000. Contrarius Group Holdings Ltd bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $168,930,000. FMR LLC grew its holdings in shares of Warner Bros. Discovery by 478.5% in the 4th quarter. FMR LLC now owns 14,278,600 shares of the company’s stock valued at $150,925,000 after acquiring an additional 11,810,191 shares in the last quarter. Slate Path Capital LP grew its holdings in Warner Bros. Discovery by 36.6% during 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 period. Finally, Sachem Head Capital Management LP acquired a new position in Warner Bros. Discovery during the fourth quarter worth approximately $64,847,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 5.0%

WBD opened at $10.51 on Thursday. The company has a 50 day moving average of $8.90 and a 200 day moving average of $9.94. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market cap of $25.80 billion, a PE ratio of -2.29, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results 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 net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the business earned ($0.40) earnings per share. The firm’s revenue for the quarter 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 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Monday. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Tuesday. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a report on Tuesday, May 27th. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.17.

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.