Newport Trust Company LLC Sells 486,243 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Newport Trust Company LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,776,827 shares of the company’s stock after selling 486,243 shares during the period. Newport Trust Company LLC owned approximately 0.40% of Warner Bros. Discovery worth $72,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $33,000. FinTrust Capital Advisors LLC raised its position in shares of Warner Bros. Discovery by 56.3% during 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 during the period. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at about $27,000. First Financial Corp IN grew its position in shares of Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after purchasing an additional 2,887 shares during the period. Finally, Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth approximately $26,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBD has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Wells Fargo & Company reduced their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen dropped their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Stock Down 0.2 %

Shares of WBD stock opened at $8.40 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of -6.77 and a beta of 1.48. The firm’s 50-day moving average is $7.84 and its 200-day moving average is $7.98.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS 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.