Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 392,285 shares of the company’s stock after selling 57,727 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Warner Bros. Discovery were worth $3,236,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Sessa Capital IM L.P. grew its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after buying an additional 5,100,000 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of Warner Bros. Discovery by 781.3% during the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Warner Bros. Discovery by 1,216.7% during the 2nd 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 during the period. EdgePoint Investment Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Finally, Drexel Morgan & Co. boosted its position in Warner Bros. Discovery by 43.5% during the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 1.2 %

NASDAQ:WBD opened at $10.11 on Friday. The stock has a fifty day simple moving average of $8.31 and a 200 day simple moving average of $7.93. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of -2.25 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period last year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent research reports. Macquarie raised their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Evercore ISI reduced their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Barclays boosted their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Barrington Research restated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.55.

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.