Handelsbanken Fonder AB Cuts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Handelsbanken Fonder AB lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 363,028 shares of the company’s stock after selling 1,687 shares during the quarter. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $2,995,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sessa Capital IM L.P. lifted its holdings in Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after buying an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after purchasing an additional 235,192 shares in the last quarter. Bank of New York Mellon Corp lifted 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 buying an additional 719,869 shares during the last quarter. 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 in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of Warner Bros. Discovery by 23.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after buying an additional 1,452,913 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $7.72 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market capitalization of $18.92 billion, a P/E ratio of -6.23 and a beta of 1.48. The business has a 50 day simple moving average of $7.79 and a 200-day simple moving average of $7.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its 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 net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period last year, the business posted ($0.51) EPS. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

WBD has been the subject of a number of research reports. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $10.00 to $8.00 in a research report 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 report on Thursday, August 8th. Evercore ISI cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays decreased their price objective on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.78.

Warner Bros. Discovery 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.