Morningstar Investment Services LLC Has $367,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Morningstar Investment Services LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 45.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,173 shares of the company's stock after selling 28,245 shares during the period. Morningstar Investment Services LLC's holdings in Warner Bros. Discovery were worth $367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Advisor Group LLC lifted its stake in shares of Warner Bros. Discovery by 12.9% in the 1st quarter. Private Advisor Group LLC now owns 51,113 shares of the company's stock valued at $548,000 after purchasing an additional 5,851 shares during the period. Forum Financial Management LP lifted its stake in shares of Warner Bros. Discovery by 10.8% in the 1st quarter. Forum Financial Management LP now owns 47,851 shares of the company's stock valued at $513,000 after purchasing an additional 4,648 shares during the period. Graypoint LLC acquired a new position in shares of Warner Bros. Discovery in the 1st quarter valued at $174,000. Larson Financial Group LLC lifted its stake in shares of Warner Bros. Discovery by 42.3% in the 1st quarter. Larson Financial Group LLC now owns 6,104 shares of the company's stock valued at $65,000 after purchasing an additional 1,814 shares during the period. Finally, Wealthfront Advisers LLC lifted its stake in shares of Warner Bros. Discovery by 209.7% in the 1st quarter. Wealthfront Advisers LLC now owns 726,053 shares of the company's stock valued at $7,791,000 after purchasing an additional 491,610 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 0.7%

Shares of NASDAQ:WBD opened at $12.75 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.04. The company has a market capitalization of $31.30 billion, a P/E ratio of -2.90 and a beta of 1.54. The company has a 50-day simple moving average of $10.45 and a 200 day simple moving average of $10.03. 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 - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates 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 company's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) earnings per share. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on WBD shares. Citigroup dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. UBS Group raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Twelve research 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.41.

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.

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