Thrivent Financial for Lutherans Sells 357,416 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Thrivent Financial for Lutherans lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,750,516 shares of the company’s stock after selling 357,416 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Warner Bros. Discovery were worth $35,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $33,000. FinTrust Capital Advisors LLC boosted its holdings in Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery during the first quarter worth $27,000. First Financial Corp IN boosted its holdings in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Warner Bros. Discovery during the second quarter worth $26,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on WBD shares. Macquarie reduced their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $8.24 on Monday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of -6.65 and a beta of 1.48. The firm’s 50-day simple moving average is $7.86 and its 200 day simple moving average is $7.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

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.