Victory Capital Management Inc. Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Victory Capital Management Inc. reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,771,592 shares of the company’s stock after selling 37,506 shares during the quarter. Victory Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $14,616,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WBD shares. Morgan Stanley reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Barclays raised their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company lowered 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 report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $9.50 on Wednesday. The stock has a market cap of $23.31 billion, a price-to-earnings ratio of -2.07 and a beta of 1.48. The stock’s 50 day simple moving average is $8.20 and its two-hundred day simple moving average is $7.90. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. 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 announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.17) earnings per share. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

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.