Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Decreased by Integrated Advisors Network LLC

Integrated Advisors Network LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,469 shares of the company’s stock after selling 6,359 shares during the period. Integrated Advisors Network LLC’s holdings in Warner Bros. Discovery were worth $413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in Warner Bros. Discovery during the 4th quarter worth $362,210,000. Contrarius Group Holdings Ltd bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at about $168,930,000. FMR LLC lifted its holdings in Warner Bros. Discovery by 478.5% in the fourth quarter. FMR LLC now owns 14,278,600 shares of the company’s stock worth $150,925,000 after purchasing an additional 11,810,191 shares during the period. Slate Path Capital LP lifted its holdings in Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after purchasing an additional 6,381,000 shares during the period. Finally, Sachem Head Capital Management LP bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $64,847,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $10.03 on Friday. The company’s fifty day moving average is $8.99 and its two-hundred day moving average is $9.94. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a market cap of $24.62 billion, a P/E ratio of -2.19, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WBD has been the topic of a number of recent analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Raymond James cut their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. KeyCorp lowered their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Citigroup dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.17.

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.