Brown Brothers Harriman & Co. Has $78,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brown Brothers Harriman & Co. cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,467 shares of the company’s stock after selling 1,980 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Warner Bros. Discovery were worth $78,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management increased its position 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 acquiring an additional 1,221 shares during the period. Commerce Bank lifted its holdings in Warner Bros. Discovery by 2.4% during the 3rd quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after buying an additional 1,286 shares during the period. GAM Holding AG lifted its position in shares of Warner Bros. Discovery by 0.3% in the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after purchasing an additional 1,437 shares during the period. Waldron Private Wealth LLC boosted its stake in shares of Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares during the last quarter. Finally, PFG Investments LLC increased its position in shares of Warner Bros. Discovery by 1.4% during the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after buying an additional 1,517 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.38 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average price of $8.45 and a 200 day moving average price of $8.00. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market capitalization of $25.46 billion, a P/E ratio of -2.27 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WBD shares. Macquarie increased their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Barclays boosted their price target 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. Rosenblatt Securities reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, TD Cowen dropped their target price 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. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.