Founders Financial Alliance LLC Sells 2,192 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Founders Financial Alliance LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,388 shares of the company’s stock after selling 2,192 shares during the quarter. Founders Financial Alliance LLC’s holdings in Warner Bros. Discovery were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sessa Capital IM L.P. lifted its stake in Warner Bros. Discovery by 28.8% in the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after purchasing an additional 5,100,000 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after acquiring an additional 3,826,715 shares during the period. Mackenzie Financial Corp grew its position in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Finally, Drexel Morgan & Co. boosted its stake in shares of Warner Bros. Discovery by 97.6% during the first quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after purchasing an additional 2,272,245 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $8.16 on Wednesday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $19.99 billion, a P/E ratio of -6.58 and a beta of 1.48. The stock’s 50 day moving average is $7.86 and its 200 day moving average is $7.95.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results 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 company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.51) earnings per share. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of recent analyst reports. Macquarie lowered their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Benchmark reiterated a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. The Goldman Sachs Group reduced their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Moffett Nathanson dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on 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 equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.