UMB Bank n.a. Sells 3,180 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

UMB Bank n.a. lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,010 shares of the company’s stock after selling 3,180 shares during the quarter. UMB Bank n.a.’s holdings in Warner Bros. Discovery were worth $127,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Warner Bros. Discovery by 6.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 420,575 shares of the company’s stock worth $3,129,000 after acquiring an additional 24,937 shares in the last quarter. Bfsg LLC raised its position in Warner Bros. Discovery by 1.6% during the second quarter. Bfsg LLC now owns 241,313 shares of the company’s stock worth $1,795,000 after acquiring an additional 3,719 shares in the last quarter. Whittier Trust Co. raised its position in Warner Bros. Discovery by 127.4% during the second quarter. Whittier Trust Co. now owns 15,389 shares of the company’s stock worth $114,000 after acquiring an additional 8,622 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Warner Bros. Discovery by 53.8% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 25,451 shares of the company’s stock worth $189,000 after acquiring an additional 8,905 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in Warner Bros. Discovery by 3.0% during the second quarter. State of Michigan Retirement System now owns 782,025 shares of the company’s stock worth $5,818,000 after acquiring an additional 23,100 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Macquarie dropped their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. TD Cowen decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average price target of $11.25.

Warner Bros. Discovery Trading Up 1.4 %

WBD opened at $7.84 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.31. The company has a 50-day simple moving average of $7.71 and a 200 day simple moving average of $8.13. 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 stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of -6.32 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The company had revenue of $9.71 billion during the quarter, compared to the consensus estimate 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 firm’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted ($0.51) EPS. Analysts predict 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.