Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,422,502 shares of the company's stock after selling 127,868 shares during the quarter. Warner Bros. Discovery accounts for 0.9% of Readystate Asset Management LP's holdings, making the stock its 21st largest holding. Readystate Asset Management LP owned 0.10% of Warner Bros. Discovery worth $25,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Colonial Trust Advisors increased its holdings in Warner Bros. Discovery by 71.8% during 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. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the first quarter valued at approximately $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery in the first quarter valued at approximately $28,000. Graney & King LLC purchased a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $28,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Argus raised Warner Bros. Discovery to a "hold" rating in a report on Tuesday, May 27th. Benchmark reiterated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 9th. Finally, Citigroup cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Twelve equities 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $12.41.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded up $0.12 on Tuesday, reaching $12.92. The stock had a trading volume of 44,072,654 shares, compared to its average volume of 38,408,925. 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's 50-day moving average is $10.45 and its two-hundred day moving average is $10.02. The firm has a market capitalization of $31.70 billion, a price-to-earnings ratio of -2.93 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $13.04.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its earnings results 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). 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 quarter in the previous year, the company earned ($0.40) EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.

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