Annis Gardner Whiting Capital Advisors LLC Has $782,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Key Points

• Annis Gardner Whiting Capital Advisors LLC reduced its stake in Warner Bros. Discovery by 41.3%, now holding 72,841 shares worth approximately $782,000.
• Several institutional investors have increased their holdings in Warner Bros. Discovery, with Colonial Trust Advisors leading with a 71.8% increase, now owning 2,383 shares valued at $25,000.
• Warner Bros. Discovery reported a loss of ($0.18) earnings per share for the last quarter, missing analyst expectations, and saw a 9.8% decline in revenue year-over-year.

Annis Gardner Whiting Capital Advisors LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 41.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,841 shares of the company's stock after selling 51,201 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC's holdings in Warner Bros. Discovery were worth $782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Warner Bros. Discovery by 478.5% in the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock valued at $150,925,000 after buying an additional 11,810,191 shares in the last quarter. Slate Path Capital LP boosted its holdings in shares of Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after buying an additional 6,381,000 shares in the last quarter. KBC Group NV boosted its holdings in shares of Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after buying an additional 6,232,561 shares in the last quarter. Sachem Head Capital Management LP bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $64,847,000. Finally, Duquesne Family Office LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $49,231,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 7.3%

Shares of Warner Bros. Discovery stock traded down $0.93 on Thursday, hitting $11.86. 57,439,488 shares of the company's stock traded hands, compared to its average volume of 78,444,912. The firm's 50-day moving average is $11.50 and its 200 day moving average is $10.32. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.86. The stock has a market cap of $29.11 billion, a P/E ratio of -2.70 and a beta of 1.57. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.76. The firm had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned ($4.07) earnings per share. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on WBD shares. Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Bank of America lifted their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. UBS Group lifted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their target price on shares of Warner Bros. Discovery from $10.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Twelve research analysts have rated the stock with a hold rating, eleven have issued 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 an average price target of $12.81.

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.