Envestnet Portfolio Solutions Inc. Sells 36,530 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Envestnet Portfolio Solutions Inc. lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 74.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,620 shares of the company’s stock after selling 36,530 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Warner Bros. Discovery were worth $135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WBD. Colonial Trust Advisors grew its stake in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares during the last quarter. Personal CFO Solutions LLC grew its position in Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after acquiring an additional 1,174 shares during the last quarter. TCTC Holdings LLC increased its holdings in Warner Bros. Discovery by 18.1% in the 4th quarter. TCTC Holdings LLC now owns 8,156 shares of the company’s stock worth $86,000 after purchasing an additional 1,250 shares in the last quarter. Bessemer Group Inc. increased its holdings in Warner Bros. Discovery by 11.4% in the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock worth $139,000 after purchasing an additional 1,338 shares in the last quarter. Finally, CX Institutional raised its position in Warner Bros. Discovery by 5.7% in the first quarter. CX Institutional now owns 27,324 shares of the company’s stock valued at $293,000 after purchasing an additional 1,465 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Huber Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a report on Monday, June 9th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Wells Fargo & Company upped their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Citigroup cut their price target 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, May 29th. Finally, Morgan Stanley reduced their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.28.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $10.94 on Wednesday. The firm has a market cap of $26.86 billion, a PE ratio of -2.49 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The business’s 50 day moving average price is $9.63 and its two-hundred day moving average price is $9.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.40) EPS. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

About Warner Bros. Discovery

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.