Elo Mutual Pension Insurance Co Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Elo Mutual Pension Insurance Co lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 208,497 shares of the company’s stock after selling 3,178 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Warner Bros. Discovery were worth $1,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Warner Bros. Discovery by 17.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 118,209 shares of the company’s stock worth $872,000 after acquiring an additional 17,944 shares during the period. Elkhorn Partners Limited Partnership boosted its holdings in Warner Bros. Discovery by 10.5% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 21,000 shares of the company’s stock valued at $156,000 after purchasing an additional 2,000 shares in the last quarter. Amalgamated Bank boosted its holdings in Warner Bros. Discovery by 44.8% in the 2nd quarter. Amalgamated Bank now owns 668,327 shares of the company’s stock valued at $4,972,000 after purchasing an additional 206,694 shares in the last quarter. Tredje AP fonden acquired a new position in Warner Bros. Discovery during the 2nd quarter worth approximately $2,445,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Warner Bros. Discovery by 8.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,583 shares of the company’s stock valued at $265,000 after buying an additional 2,849 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WBD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut 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. Barclays reduced their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Rosenblatt Securities restated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. 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 report on Thursday, August 8th. Finally, Macquarie lowered their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $8.24 on Friday. The stock has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month 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’s 50-day moving average is $7.86 and its two-hundred day moving average is $7.98.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) EPS. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share 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.