Sentry Investment Management LLC Sells 1,880 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sentry Investment Management LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,545 shares of the company’s stock after selling 1,880 shares during the quarter. Sentry Investment Management LLC’s holdings in Warner Bros. Discovery were worth $78,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WBD. The Manufacturers Life Insurance Company raised its position in Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Norges Bank bought a new position in Warner Bros. Discovery in the fourth quarter valued at about $198,916,000. Bank of New York Mellon Corp raised its position in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Warner Bros. Discovery by 1.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock valued at $96,784,000 after purchasing an additional 123,693 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Macquarie decreased their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. decreased their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Barclays decreased their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Stock Up 10.8 %

Shares of NASDAQ:WBD opened at $8.49 on Friday. The business’s 50 day simple moving average is $7.73 and its two-hundred day simple moving average is $7.98. The firm has a market cap of $20.82 billion, a P/E ratio of -6.85 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) EPS. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

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.