Oppenheimer & Co. Inc. Decreases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% during the second quarter, Holdings Channel.com reports. The fund owned 378,069 shares of the company’s stock after selling 2,509 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Warner Bros. Discovery were worth $2,813,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado boosted its stake in shares of Warner Bros. Discovery by 5,128.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after purchasing an additional 343,854 shares in the last quarter. Thompson Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 23.5% during the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Warner Bros. Discovery during the first quarter worth about $182,000. Finally, SageView Advisory Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $129,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

WBD has been the topic of several research reports. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday. Macquarie dropped their price objective on shares of 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. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a research note on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average price target of $10.93.

Warner Bros. Discovery Stock Up 10.8 %

WBD opened at $8.49 on Monday. 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 50 day moving average price of $7.75 and a 200-day moving average price of $7.98. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market capitalization of $20.80 billion, a price-to-earnings ratio of -6.85 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the prior year, the company posted ($0.51) earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

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.