Auxier Asset Management Lowers Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Auxier Asset Management lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,836 shares of the company’s stock after selling 7,822 shares during the period. Auxier Asset Management’s holdings in Warner Bros. Discovery were worth $1,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Sessa Capital IM L.P. increased its stake in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after purchasing an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares during the last quarter. Drexel Morgan & Co. lifted its stake in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares in the last quarter. Finally, Clifford Capital Partners LLC acquired a new position in Warner Bros. Discovery during the second quarter worth about $14,760,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $10.38 on Friday. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The firm’s fifty day simple moving average is $8.49 and its 200-day simple moving average is $8.02. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) EPS. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price 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. TD Cowen cut their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Raymond James boosted their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Wells Fargo & Company cut their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.55.

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.