Intech Investment Management LLC Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Intech Investment Management LLC decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 91.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,481 shares of the company’s stock after selling 877,674 shares during the quarter. Intech Investment Management LLC’s holdings in Warner Bros. Discovery were worth $629,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in Warner Bros. Discovery during the second quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in Warner Bros. Discovery in the 1st quarter worth approximately $27,000. OFI Invest Asset Management boosted its stake in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares in the last quarter. First Financial Corp IN grew its position in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after acquiring an additional 2,887 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth approximately $33,000. 59.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of several recent research reports. Morgan Stanley reduced their target price 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. Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Stock Up 1.3 %

WBD stock opened at $8.30 on Friday. The company has a market capitalization of $20.34 billion, a price-to-earnings ratio of -6.69 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50 day moving average price is $7.88 and its two-hundred day moving average price is $7.97. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week 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 analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter last year, the company posted ($0.51) EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share 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.