Symmetry Investments LP Sells 308,000 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Symmetry Investments LP lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 88.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,000 shares of the company’s stock after selling 308,000 shares during the period. Symmetry Investments LP’s holdings in Warner Bros. Discovery were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. FinTrust Capital Advisors LLC increased its holdings in Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Warner Bros. Discovery by 4.6% in the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after purchasing an additional 1,108 shares during the period. Holistic Financial Partners lifted its stake in Warner Bros. Discovery by 5.8% in the fourth quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock valued at $242,000 after purchasing an additional 1,167 shares during the last quarter. OFI Invest Asset Management grew its holdings in Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the period. Finally, NEOS Investment Management LLC grew its holdings in Warner Bros. Discovery by 1.1% during the fourth quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock valued at $1,279,000 after purchasing an additional 1,226 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Down 1.9 %

Shares of NASDAQ WBD opened at $8.24 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average of $7.86 and a 200-day moving average of $7.98. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of -6.65 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) 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 company had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same period in the prior year, the firm earned ($0.51) EPS. Warner Bros. Discovery’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WBD. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. Barclays lowered their price objective on 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. Evercore ISI cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company lowered 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 report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $18.00 price target 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 given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.