OLD National Bancorp IN Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

OLD National Bancorp IN lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 563,046 shares of the company’s stock after selling 19,588 shares during the quarter. OLD National Bancorp IN’s holdings in Warner Bros. Discovery were worth $4,645,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Thompson Investment Management Inc. increased its stake in Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after buying an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after acquiring an additional 5,081 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $182,000. Mackenzie Financial Corp grew its stake in Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Warner Bros. Discovery by 31.0% during the 1st quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock worth $2,751,000 after purchasing an additional 74,587 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WBD. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Macquarie lowered their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Barclays cut their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. TD Cowen lowered their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.66.

Warner Bros. Discovery Trading Up 0.5 %

Shares of NASDAQ:WBD opened at $7.82 on Monday. The business’s 50-day moving average is $7.78 and its 200 day moving average is $7.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a market capitalization of $19.16 billion, a P/E ratio of -6.31 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for 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 revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.51) EPS. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current fiscal 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.