Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Lessened by Lbp Am Sa

LBP AM SA cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 19.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,602,918 shares of the company's stock after selling 386,873 shares during the quarter. LBP AM SA owned about 0.07% of Warner Bros. Discovery worth $17,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WBD. 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 worth $25,000 after acquiring an additional 996 shares during the last quarter. North Capital Inc. purchased a new stake in Warner Bros. Discovery in the 1st quarter valued at approximately $28,000. Graney & King LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the first quarter worth $29,000. Finally, Briaud Financial Planning Inc raised its holdings in shares of Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after acquiring an additional 2,000 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on WBD. Barclays upped their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday. Bank of America upped their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Guggenheim restated a "buy" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Huber Research upgraded shares of Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Stock Up 0.7%

NASDAQ:WBD traded up $0.08 during trading hours on Wednesday, hitting $11.49. The stock had a trading volume of 54,766,673 shares, compared to its average volume of 36,656,725. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The business has a 50 day simple moving average of $9.89 and a two-hundred day simple moving average of $9.94. The company has a market cap of $28.21 billion, a PE ratio of -2.61 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share 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 business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period last year, the company posted ($0.40) earnings per share. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.