Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 49.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,118 shares of the company’s stock after selling 10,797 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Warner Bros. Discovery were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery during the second quarter valued at $26,000. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the first quarter valued at about $27,000. OFI Invest Asset Management boosted 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 worth $27,000 after buying an additional 1,221 shares during the period. Transcendent Capital Group LLC increased its position in shares of Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $39,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 2.7 %

Warner Bros. Discovery stock opened at $9.47 on Tuesday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company’s fifty day moving average price is $8.10 and its two-hundred day moving average price is $7.88. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of -2.07 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data 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 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 was down 3.6% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent analyst reports. TD Cowen decreased their price objective on shares of 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. Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Evercore ISI dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.