Davidson Kempner Capital Management LP Sells 159,385 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Davidson Kempner Capital Management LP reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,739 shares of the company’s stock after selling 159,385 shares during the quarter. Davidson Kempner Capital Management LP’s holdings in Warner Bros. Discovery were worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery in the fourth quarter worth about $33,000. FinTrust Capital Advisors LLC boosted its position 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 valued at $35,000 after purchasing an additional 1,105 shares in the last quarter. Crewe Advisors LLC purchased a new position in Warner Bros. Discovery in the first quarter worth $27,000. First Financial Corp IN raised its position in shares of Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, Family Firm Inc. purchased a new stake in Warner Bros. Discovery in the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. The Goldman Sachs Group dropped their price objective on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. TD Cowen decreased their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Macquarie lowered their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Price Performance

WBD stock opened at $8.24 on Monday. The company has a 50 day simple moving average of $7.86 and a 200 day simple moving average of $7.97. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The stock 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 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). The business had revenue of $9.71 billion during 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 business’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted ($0.51) earnings per share. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

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.