Hartford Investment Management Co. Sells 1,643 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Hartford Investment Management Co. decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,320 shares of the company’s stock after selling 1,643 shares during the period. Hartford Investment Management Co.’s holdings in Warner Bros. Discovery were worth $1,158,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sessa Capital IM L.P. grew its holdings in shares of Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after purchasing an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Warner Bros. Discovery by 1.1% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock valued at $155,165,000 after buying an additional 235,192 shares during the period. Bank of New York Mellon Corp grew its holdings in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after acquiring an additional 719,869 shares during the last quarter. Yacktman Asset Management LP increased its position in shares of Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after acquiring an additional 100,565 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of Warner Bros. Discovery by 23.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after acquiring an additional 1,452,913 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WBD. Morgan Stanley reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Barrington Research restated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company cut their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Stock Up 1.1 %

WBD stock opened at $7.60 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market cap of $18.62 billion, a PE ratio of -6.13 and a beta of 1.48. The business has a 50 day moving average of $7.82 and a 200 day moving average of $7.84. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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). The firm had revenue of $9.71 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.51) earnings per share. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

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.