Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 32.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,476 shares of the company’s stock after selling 61,845 shares during the period. Captrust Financial Advisors’ holdings in Warner Bros. Discovery were worth $1,048,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares in the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of 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 acquiring an additional 235,192 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after purchasing an additional 687,612 shares in the last quarter. Bank of New York Mellon Corp raised its position in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the period. Finally, Yacktman Asset Management LP lifted its stake in shares of Warner Bros. Discovery by 1.2% during the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after purchasing an additional 100,565 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Macquarie lifted their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. 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 stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Raymond James boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.66 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The business’s fifty day moving average price is $8.77 and its 200 day moving average price is $8.12. The stock has a market capitalization of $26.15 billion, a PE ratio of -2.33 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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 company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm posted ($0.17) EPS. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

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.