Wellington Shields & Co. LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wellington Shields & Co. LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,050 shares of the company’s stock after selling 2,070 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Warner Bros. Discovery were worth $134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $377,000. QRG Capital Management Inc. boosted its stake in Warner Bros. Discovery by 13.5% during the fourth quarter. QRG Capital Management Inc. now owns 54,283 shares of the company’s stock worth $618,000 after acquiring an additional 6,447 shares in the last quarter. Quotient Wealth Partners LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth about $121,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Warner Bros. Discovery by 7.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,404,514 shares of the company’s stock worth $27,171,000 after acquiring an additional 161,369 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Warner Bros. Discovery by 3.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 104,824 shares of the company’s stock worth $1,193,000 after acquiring an additional 3,797 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

WBD has been the topic of several research reports. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Evercore ISI dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Macquarie dropped 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. Finally, Moffett Nathanson dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.98.

Warner Bros. Discovery Stock Down 1.1 %

Shares of WBD stock opened at $6.94 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market cap of $17.01 billion, a P/E ratio of -5.60 and a beta of 1.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a 50 day simple moving average of $7.72 and a two-hundred day simple moving average of $7.99.

Warner Bros. Discovery (NASDAQ:WBD) last announced its 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). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the prior year, the company posted ($0.51) earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts expect 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.