Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Lowered by Private Advisor Group LLC

Private Advisor Group LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,423 shares of the company’s stock after selling 6,459 shares during the quarter. Private Advisor Group LLC’s holdings in Warner Bros. Discovery were worth $673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBD. Norges Bank bought a new position in Warner Bros. Discovery in the fourth quarter worth about $198,916,000. Retirement Systems of Alabama raised its position in shares of Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after purchasing an additional 3,826,715 shares during the period. The Manufacturers Life Insurance Company boosted its position in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after purchasing an additional 3,710,343 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after acquiring an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. increased its holdings in shares of Warner Bros. Discovery by 97.6% in the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock worth $40,162,000 after acquiring an additional 2,272,245 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 1.3 %

WBD stock opened at $8.45 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $20.71 billion, a P/E ratio of -6.81 and a beta of 1.48. The company’s 50 day simple moving average is $7.80 and its 200-day simple moving average is $7.97.

Warner Bros. Discovery (NASDAQ:WBD) last announced 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 business had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analysts Set New Price Targets

WBD has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Macquarie lowered their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Evercore ISI reduced their price target 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.93.

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.