American International Group Inc. Decreases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

American International Group Inc. lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 832,552 shares of the company’s stock after selling 1,607 shares during the period. American International Group Inc.’s holdings in Warner Bros. Discovery were worth $9,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WBD. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter valued at $1,009,000. Massachusetts Financial Services Co. MA increased its stake in Warner Bros. Discovery by 53.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,816,043 shares of the company’s stock worth $30,582,000 after purchasing an additional 976,971 shares during the period. NewEdge Wealth LLC increased its stake in Warner Bros. Discovery by 10.4% in the third quarter. NewEdge Wealth LLC now owns 15,015 shares of the company’s stock worth $163,000 after purchasing an additional 1,416 shares during the period. Atria Wealth Solutions Inc. increased its stake in Warner Bros. Discovery by 6.5% in the third quarter. Atria Wealth Solutions Inc. now owns 267,507 shares of the company’s stock worth $2,905,000 after purchasing an additional 16,402 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in Warner Bros. Discovery by 4.7% in the third quarter. Sequoia Financial Advisors LLC now owns 28,855 shares of the company’s stock worth $313,000 after purchasing an additional 1,307 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.27 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $7.34 and a 52-week high of $14.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50-day moving average price of $8.18 and a 200-day moving average price of $9.47.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on WBD shares. Morgan Stanley reduced their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Barclays reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 29th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. dropped their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.16.

Get Our Latest Stock Report on WBD

About Warner Bros. Discovery

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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