Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 49.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,118 shares of the company’s stock after selling 10,797 shares during the period. Los Angeles Capital Management LLC’s holdings in Warner Bros. Discovery were worth $92,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery during the second quarter worth about $26,000. Crewe Advisors LLC bought a new position in Warner Bros. Discovery during the 1st quarter worth approximately $27,000. OFI Invest Asset Management lifted its holdings in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the last quarter. Transcendent Capital Group LLC grew its position in shares of Warner Bros. Discovery by 665.4% in the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $39,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.47 on Tuesday. The stock’s 50 day moving average price is $8.10 and its 200 day moving average price is $7.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $23.22 billion, a price-to-earnings ratio of -2.07 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WBD shares. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.55.

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.