Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Several other hedge funds have also recently bought and sold shares of WBD. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter worth $26,000. OFI Invest Asset Management increased its holdings in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the period. LRI Investments LLC purchased a new position in Warner Bros. Discovery during the 1st quarter worth $39,000. Larson Financial Group LLC lifted its position in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock valued at $41,000 after purchasing an additional 1,754 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. TD Cowen reduced 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, August 8th. Finally, Moffett Nathanson lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Up 2.7 %

Shares of NASDAQ:WBD 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 firm has a market cap of $25.46 billion, a P/E ratio of -2.27 and a beta of 1.48. The company’s 50-day moving average price is $8.45 and its two-hundred day moving average price is $8.00. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 was down 3.6% on a year-over-year basis. During the same period last year, the company earned ($0.17) EPS. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS 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.