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Mutual of America Capital Management LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 2.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 259,565 shares of the company’s stock after selling 7,825 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,785,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Colonial Trust Advisors lifted its position in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $28,000. Graney & King LLC purchased a new position in Warner Bros. Discovery in the 4th quarter worth approximately $28,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $29,000. Institutional investors own 59.95% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. UBS Group lifted their price target 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. Citigroup decreased 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. KeyCorp decreased their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Barclays lifted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Finally, Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.41.
View Our Latest Research Report on Warner Bros. Discovery
Warner Bros. Discovery Price Performance
Shares of WBD stock opened at $12.75 on Friday. The stock has a market cap of $31.30 billion, a price-to-earnings ratio of -2.90 and a beta of 1.54. The business’s fifty day moving average is $10.45 and its 200 day moving average is $10.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.04. 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 quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share 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 analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. Warner Bros. Discovery’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.40) earnings per share. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.
Warner Bros. Discovery 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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