Bank of New York Mellon Corp Sells 128,609 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bank of New York Mellon Corp decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,045,564 shares of the company's stock after selling 128,609 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Warner Bros. Discovery worth $150,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after acquiring an additional 51,920 shares during the period. Steward Partners Investment Advisory LLC increased its position in Warner Bros. Discovery by 7.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 65,162 shares of the company's stock valued at $689,000 after acquiring an additional 4,789 shares during the period. Assetmark Inc. increased its position in Warner Bros. Discovery by 6,152.2% in the 4th quarter. Assetmark Inc. now owns 126,794 shares of the company's stock valued at $1,340,000 after acquiring an additional 124,766 shares during the period. Proficio Capital Partners LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $794,000. Finally, Callan Family Office LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $222,000. Institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WBD. Raymond James Financial decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Twelve analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average target price of $12.41.

Warner Bros. Discovery Stock Up 1.1%

NASDAQ:WBD traded up $0.13 during trading hours on Thursday, reaching $11.62. The company had a trading volume of 15,765,787 shares, compared to its average volume of 36,605,820. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of -2.64 and a beta of 1.54. The business's 50-day simple moving average is $9.94 and its two-hundred day simple moving average is $9.95. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

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