Auxier Asset Management Has $1.11 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Auxier Asset Management lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,658 shares of the company’s stock after selling 40,301 shares during the quarter. Auxier Asset Management’s holdings in Warner Bros. Discovery were worth $1,113,000 at the end of the most recent reporting period.

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

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $8.24 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s 50-day simple moving average is $7.86 and its 200 day simple moving average is $7.98. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group dropped their target price on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. JPMorgan Chase & Co. lowered their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Barclays cut their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.