Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 48.4% in the 3rd quarter, Holdings Channel reports. The firm owned 45,212 shares of the company’s stock after selling 42,324 shares during the period. Van ECK Associates Corp’s holdings in Warner Bros. Discovery were worth $373,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WBD. Private Management Group Inc. boosted its holdings in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares during the period. Mackenzie Financial Corp lifted its position in shares of Warner Bros. Discovery by 1,216.7% during 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. International Assets Investment Management LLC grew its holdings in shares of Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after purchasing an additional 163,295 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Warner Bros. Discovery by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after purchasing an additional 105,321 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake 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 buying an additional 74,587 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 1.2 %

Shares of NASDAQ:WBD opened at $9.22 on Wednesday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.76. The stock has a market cap of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48. The firm has a fifty day moving average price of $7.97 and a 200 day moving average price of $7.84.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.55 EPS for the current year.

Analysts Set New Price Targets

WBD has been the subject of several recent research reports. Raymond James raised their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Evercore ISI reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $10.55.

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.