Atria Wealth Solutions Inc. Sells 31,912 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Atria Wealth Solutions Inc. trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 136,300 shares of the company’s stock after selling 31,912 shares during the period. Atria Wealth Solutions Inc.’s holdings in Warner Bros. Discovery were worth $1,014,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WBD. GAMMA Investing LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $145,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Warner Bros. Discovery by 9.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,762 shares of the company’s stock worth $703,000 after purchasing an additional 5,074 shares during the period. Golden State Equity Partners grew its stake in shares of Warner Bros. Discovery by 14.8% in the fourth quarter. Golden State Equity Partners now owns 16,871 shares of the company’s stock worth $192,000 after purchasing an additional 2,180 shares during the last quarter. Bruni J V & Co. Co. increased its holdings in Warner Bros. Discovery by 1.3% in the fourth quarter. Bruni J V & Co. Co. now owns 1,143,339 shares of the company’s stock valued at $13,011,000 after purchasing an additional 14,686 shares during the period. Finally, Mather Group LLC. bought a new position in Warner Bros. Discovery during the 4th quarter worth $158,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WBD. Evercore ISI decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group decreased their target price on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Thursday, August 8th. 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. Macquarie reduced their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Barrington Research reissued an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.25.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.05 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.31. The stock’s 50 day moving average is $7.62 and its 200-day moving average is $8.18. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of -6.49 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.51) EPS. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.44 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.