Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Lowered by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 62.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 383,706 shares of the company’s stock after selling 645,180 shares during the quarter. Federated Hermes Inc.’s holdings in Warner Bros. Discovery were worth $4,367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WBD. AE Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 1.3% during the 3rd quarter. AE Wealth Management LLC now owns 105,151 shares of the company’s stock worth $1,142,000 after purchasing an additional 1,326 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $83,000. Caprock Group LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter valued at approximately $160,000. Advisory Alpha LLC increased its position in Warner Bros. Discovery by 91.2% in the 3rd quarter. Advisory Alpha LLC now owns 20,725 shares of the company’s stock valued at $225,000 after acquiring an additional 9,885 shares during the period. Finally, UMB Bank n.a. increased its position in Warner Bros. Discovery by 121.8% in the 3rd quarter. UMB Bank n.a. now owns 14,051 shares of the company’s stock valued at $153,000 after acquiring an additional 7,716 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WBD has been the topic of several analyst reports. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research report on Tuesday. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their target price for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Barrington Research lowered their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Finally, Macquarie lowered their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $8.11 on Friday. The stock has a market cap of $19.79 billion, a PE ratio of -6.34 and a beta of 1.51. The business has a fifty day simple moving average of $8.65 and a 200-day simple moving average of $9.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

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.