Davidson Kempner Capital Management LP Cuts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Davidson Kempner Capital Management LP cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 480,739 shares of the company’s stock after selling 159,385 shares during the quarter. Davidson Kempner Capital Management LP’s holdings in Warner Bros. Discovery were worth $3,582,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WBD. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery in the 2nd quarter worth about $26,000. Crewe Advisors LLC bought a new position in Warner Bros. Discovery in the first quarter worth approximately $27,000. OFI Invest Asset Management grew its stake in shares of Warner Bros. Discovery by 45.9% during the 2nd 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 during the period. First Financial Corp IN lifted its position in shares of Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after acquiring an additional 2,887 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 1.9 %

Warner Bros. Discovery stock opened at $8.24 on Monday. The company has a market capitalization of $20.19 billion, a PE ratio of -6.65 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 fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a 50 day moving average price of $7.86 and a 200 day moving average price of $7.97.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results 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). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter last year, the company earned ($0.51) earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on WBD. Macquarie reduced their price objective 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. Wells Fargo & Company cut their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Moffett Nathanson dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.93.

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.