Advisory Alpha LLC Decreases Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Advisory Alpha LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,756 shares of the company’s stock after selling 4,328 shares during the period. Advisory Alpha LLC’s holdings in Warner Bros. Discovery were worth $132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado lifted its holdings in shares of Warner Bros. Discovery by 5,128.3% in the fourth 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. raised its position 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 worth $9,768,000 after purchasing an additional 213,149 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in 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 buying an additional 5,081 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in Warner Bros. Discovery during the 1st quarter valued at $182,000. Finally, SageView Advisory Group LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth $129,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $7.97 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market cap of $19.53 billion, a PE ratio of -6.43 and a beta of 1.48. The company’s fifty day simple moving average is $7.86 and its 200-day simple moving average is $7.95. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

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 company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same period last year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on WBD. Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on shares of 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, Moffett Nathanson lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.93.

About Warner Bros. Discovery

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.