Los Angeles Capital Management LLC Lowers Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Los Angeles Capital Management LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 87.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 21,915 shares of the company’s stock after selling 146,627 shares during the period. Los Angeles Capital Management LLC’s holdings in Warner Bros. Discovery were worth $163,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado boosted its position in shares of Warner Bros. Discovery by 5,128.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after purchasing an additional 343,854 shares during the period. Thompson Investment Management Inc. raised its holdings in shares of Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Warner Bros. Discovery by 8.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at $182,000. Finally, SageView Advisory Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $129,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on WBD. Evercore ISI cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays cut their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Stock Up 10.8 %

Shares of NASDAQ:WBD opened at $8.49 on Monday. The company has a market cap of $20.80 billion, a price-to-earnings ratio of -6.85 and a beta of 1.48. The firm’s 50-day simple moving average is $7.75 and its 200-day simple moving average is $7.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.51) EPS. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current 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.