Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 92.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,818 shares of the company’s stock after selling 352,385 shares during the quarter. Federated Hermes Inc.’s holdings in Warner Bros. Discovery were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Family Firm Inc. acquired a new position in Warner Bros. Discovery in the second quarter worth $26,000. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery in the first quarter worth $27,000. OFI Invest Asset Management boosted its holdings in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the period. First Financial Corp IN boosted its holdings in Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in Warner Bros. Discovery in the fourth quarter worth $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $8.32 on Wednesday. The firm has a 50-day moving average of $7.88 and a two-hundred day moving average of $7.97. The company has a market capitalization of $20.39 billion, a price-to-earnings ratio of -6.71 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for 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 company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.51) earnings per share. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on WBD. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Moffett Nathanson decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on 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. Morgan Stanley cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price 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.