Victory Capital Management Inc. Sells 37,506 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Victory Capital Management Inc. reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,771,592 shares of the company’s stock after selling 37,506 shares during the period. Victory Capital Management Inc. owned about 0.07% of Warner Bros. Discovery worth $14,616,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sei Investments Co. lifted its position in shares of Warner Bros. Discovery by 29.3% during the first quarter. Sei Investments Co. now owns 521,613 shares of the company’s stock valued at $4,554,000 after purchasing an additional 118,278 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Warner Bros. Discovery by 31.0% in the 1st quarter. Blair William & Co. IL now owns 83,664 shares of the company’s stock worth $730,000 after buying an additional 19,776 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $511,000. O Shaughnessy Asset Management LLC increased its position in shares of Warner Bros. Discovery by 6.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 67,339 shares of the company’s stock valued at $588,000 after acquiring an additional 3,984 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in Warner Bros. Discovery by 502.5% during the first quarter. UniSuper Management Pty Ltd now owns 133,703 shares of the company’s stock worth $1,167,000 after acquiring an additional 111,511 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.3 %

Warner Bros. Discovery stock opened at $9.50 on Wednesday. The stock has a market cap of $23.31 billion, a P/E ratio of -2.07 and a beta of 1.48. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm’s fifty day moving average price is $8.20 and its 200-day moving average price is $7.90. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. TD Cowen lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of 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. Finally, Barclays upped their price objective on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.55.

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.