Forsta AP Fonden Trims Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Forsta AP Fonden reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,069 shares of the company’s stock after selling 195,000 shares during the period. Forsta AP Fonden’s holdings in Warner Bros. Discovery were worth $3,259,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FinTrust Capital Advisors LLC grew its stake in Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Warner Bros. Discovery by 4.6% during the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after buying an additional 1,108 shares in the last quarter. Holistic Financial Partners increased its stake in shares of Warner Bros. Discovery by 5.8% during the fourth quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock valued at $242,000 after buying an additional 1,167 shares during the period. OFI Invest Asset Management raised its holdings in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares in the last quarter. Finally, NEOS Investment Management LLC lifted its stake in Warner Bros. Discovery by 1.1% in the fourth quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock worth $1,279,000 after acquiring an additional 1,226 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday. Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Macquarie cut their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $8.49 on Monday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business’s 50 day moving average price is $7.75 and its 200 day moving average price is $7.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market cap of $20.80 billion, a P/E ratio of -6.85 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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 analysts’ expectations of $10.07 billion. During the same period last year, the company earned ($0.51) earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current 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.