Capco Asset Management LLC Cuts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Capco Asset Management LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,056,977 shares of the company’s stock after selling 364,733 shares during the quarter. Warner Bros. Discovery makes up about 5.4% of Capco Asset Management LLC’s holdings, making the stock its 11th largest position. Capco Asset Management LLC owned about 0.12% of Warner Bros. Discovery worth $22,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $198,916,000. D.A. Davidson & CO. raised its position in Warner Bros. Discovery by 1.3% in the fourth quarter. D.A. Davidson & CO. now owns 263,403 shares of the company’s stock worth $2,998,000 after acquiring an additional 3,438 shares during the period. Trexquant Investment LP purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $4,694,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Warner Bros. Discovery by 1.5% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 122,190 shares of the company’s stock valued at $1,391,000 after acquiring an additional 1,747 shares during the period. Finally, Oxford Asset Management LLP purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $466,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $8.42 on Thursday. The stock’s 50-day simple moving average is $7.82 and its two-hundred day simple moving average is $7.97. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market capitalization of $20.63 billion, a P/E ratio of -6.79 and a beta of 1.48. 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 (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The company had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter last year, the company posted ($0.51) earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Macquarie dropped their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Moffett Nathanson decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $10.93.

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.