Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177,897 shares of the company’s stock after selling 20,895 shares during the quarter. US Bancorp DE’s holdings in Warner Bros. Discovery were worth $1,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBD. Family Firm Inc. acquired a new stake in shares of Warner Bros. Discovery in the second quarter valued at $26,000. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery in the 1st quarter valued at about $27,000. OFI Invest Asset Management increased its stake in 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 purchasing an additional 1,221 shares during the period. Transcendent Capital Group LLC lifted its position in shares of Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $39,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on WBD. Deutsche Bank Aktiengesellschaft cut their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company lowered their target price 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. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Finally, Barclays lowered their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $9.37 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. 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 firm has a market cap of $22.97 billion, a price-to-earnings ratio of -1.95 and a beta of 1.48. The stock’s 50-day moving average is $7.87 and its two-hundred day moving average is $7.83.

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 the consensus estimate 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 company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned ($0.51) EPS. Analysts predict that Warner Bros. Discovery, Inc. will post -4.51 earnings per share for the current year.

Warner Bros. Discovery 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.