Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by AlTi Global Inc.

AlTi Global Inc. trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 202,183 shares of the company’s stock after selling 6,439 shares during the period. AlTi Global Inc.’s holdings in Warner Bros. Discovery were worth $1,504,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares during the period. Personal CFO Solutions LLC raised its holdings in shares of Warner Bros. Discovery by 4.6% during the fourth quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock valued at $286,000 after acquiring an additional 1,108 shares during the period. OFI Invest Asset Management raised its holdings in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the period. NEOS Investment Management LLC raised its holdings in shares of Warner Bros. Discovery by 1.1% during the fourth quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock valued at $1,279,000 after acquiring an additional 1,226 shares during the period. Finally, Wellington Shields Capital Management LLC raised its holdings in shares of Warner Bros. Discovery by 38.9% during the first quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock valued at $46,000 after acquiring an additional 1,488 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $8.19 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $7.88 and a 200 day simple moving average of $7.97. The company has a market cap of $20.07 billion, a P/E ratio of -6.60 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. The Goldman Sachs Group dropped their price objective on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped 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 research note on Friday, August 9th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.93.

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.