Marshall Wace LLP Sells 1,425,384 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Marshall Wace LLP lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 74.1% in the 2nd quarter, Holdings Channel reports. The firm owned 497,200 shares of the company’s stock after selling 1,425,384 shares during the period. Marshall Wace LLP’s holdings in Warner Bros. Discovery were worth $3,699,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WBD. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery during the second quarter worth $26,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter worth $27,000. OFI Invest Asset Management increased its position in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. First Financial Corp IN increased its position in shares of 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 acquiring an additional 2,887 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $33,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $7.97 on Thursday. The firm has a 50-day moving average of $7.86 and a 200-day moving average of $7.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $19.53 billion, a PE ratio of -6.43 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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 company 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 business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.51) EPS. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Macquarie lowered their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Finally, Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.