Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,497 shares of the company’s stock after selling 3,178 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Warner Bros. Discovery were worth $1,551,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WBD. The Manufacturers Life Insurance Company lifted its stake in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in shares of Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after purchasing an additional 2,621,582 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after purchasing an additional 719,869 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Warner Bros. Discovery by 1.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock valued at $96,784,000 after purchasing an additional 123,693 shares in the last quarter. Finally, Yacktman Asset Management LP increased its stake in Warner Bros. Discovery by 1.2% during the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after buying an additional 100,565 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 1.9 %

Warner Bros. Discovery stock opened at $8.24 on Friday. The stock has a 50-day simple moving average of $7.86 and a 200-day simple moving average of $7.98. The company has a market capitalization of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. 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 announced its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $9.71 billion for the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter last year, the business posted ($0.51) earnings per share. The business’s revenue was down 6.2% on a year-over-year basis. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Wells Fargo & Company decreased their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.93.

About Warner Bros. Discovery

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.