AMG National Trust Bank Sells 320,926 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

AMG National Trust Bank cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 59.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,676 shares of the company's stock after selling 320,926 shares during the period. AMG National Trust Bank's holdings in Warner Bros. Discovery were worth $2,303,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Colonial Trust Advisors raised its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Warner Bros. Discovery during the 1st quarter valued at approximately $27,000. Graney & King LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at $28,000. North Capital Inc. bought a new stake in Warner Bros. Discovery in the first quarter worth $28,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the first quarter worth $29,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Citigroup decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Guggenheim reissued a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Stock Performance

WBD opened at $12.75 on Friday. The company has a market cap of $31.30 billion, a price-to-earnings ratio of -2.90 and a beta of 1.54. The firm's fifty day simple moving average is $10.45 and its two-hundred day simple moving average is $10.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.04.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The firm had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. The firm's revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.

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