Thompson Siegel & Walmsley LLC Sells 211,774 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Thompson Siegel & Walmsley LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,330,633 shares of the company’s stock after selling 211,774 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Warner Bros. Discovery were worth $60,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sessa Capital IM L.P. increased its position in shares of Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after buying an additional 5,100,000 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Warner Bros. Discovery by 1.1% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after acquiring an additional 235,192 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after purchasing an additional 719,869 shares in the last quarter. Yacktman Asset Management LP lifted its position in Warner Bros. Discovery by 1.2% during the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after buying an additional 100,565 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Warner Bros. Discovery by 0.7% during the 3rd quarter. Swiss National Bank now owns 6,909,427 shares of the company’s stock valued at $57,003,000 after buying an additional 47,300 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $9.95 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company’s fifty day simple moving average is $8.26 and its 200-day simple moving average is $7.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WBD. Wells Fargo & Company lowered their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. 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. Deutsche Bank Aktiengesellschaft lowered their price objective on 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. Finally, Macquarie boosted their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.55.

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.