Private Management Group Inc. Lowers Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Private Management Group Inc. has reduced its stake in **Warner Bros. Discovery, Inc.** by **0.7%**, now holding **5,601,472 shares** which represents approximately **2.2%** of its investment portfolio.
• Warner Bros. Discovery reported a quarterly earnings loss of **($0.18) per share**, missing analysts' expectations, and its revenue fell **9.8%** year-over-year.
• The company has a **market cap of $33.14 billion** and a **debt-to-equity ratio of 0.99**, with stock currently trading at around **$13.50**.

Private Management Group Inc. trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,601,472 shares of the company's stock after selling 39,178 shares during the period. Warner Bros. Discovery comprises about 2.2% of Private Management Group Inc.'s investment portfolio, making the stock its 3rd largest position. Private Management Group Inc. owned 0.23% of Warner Bros. Discovery worth $60,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of WBD. Colonial Trust Advisors boosted its stake in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in Warner Bros. Discovery by 9.7% in the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock worth $160,000 after purchasing an additional 1,318 shares in the last quarter. Bessemer Group Inc. boosted its stake in Warner Bros. Discovery by 11.4% in the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock worth $139,000 after purchasing an additional 1,338 shares in the last quarter. CX Institutional boosted its stake in Warner Bros. Discovery by 5.7% in the first quarter. CX Institutional now owns 27,324 shares of the company's stock worth $293,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its stake in Warner Bros. Discovery by 9.0% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock worth $202,000 after purchasing an additional 1,561 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Up 1.4%

NASDAQ:WBD opened at $13.50 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market cap of $33.14 billion, a PE ratio of -3.07 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.68. The stock has a 50-day simple moving average of $10.76 and a 200 day simple moving average of $10.10.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate 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 firm's quarterly revenue 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, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on WBD shares. Benchmark reissued a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Guggenheim reaffirmed a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Citigroup cut their price target 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. Raymond James Financial cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Finally, Wells Fargo & Company upped their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Twelve research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and a consensus price target of $12.41.

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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