Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 74.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Colonial Trust Advisors raised its holdings in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after purchasing an additional 996 shares during the period. SRS Capital Advisors Inc. increased its stake in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after buying an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $28,000. Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Finally, Briaud Financial Planning Inc increased its stake in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 0.8%

Warner Bros. Discovery stock traded up $0.09 during mid-day trading on Friday, hitting $11.21. The company's stock had a trading volume of 24,154,256 shares, compared to its average volume of 36,356,643. The firm has a market capitalization of $27.51 billion, a PE ratio of -2.55 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The stock's fifty day moving average is $9.79 and its two-hundred day moving average is $9.93.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released 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). 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 analyst estimates of $9.66 billion. During the same quarter last year, the company earned ($0.40) earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on WBD. Barrington Research reiterated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 9th. Raymond James Financial cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Rosenblatt Securities reiterated a "neutral" rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Morgan Stanley dropped their price target on 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. Finally, Bank of America upped their price target on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.33.

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.