Bfsg LLC Sells 83,535 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bfsg LLC reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.6% in the third quarter, Holdings Channel reports. The fund owned 157,778 shares of the company’s stock after selling 83,535 shares during the quarter. Bfsg LLC’s holdings in Warner Bros. Discovery were worth $1,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WBD. Sessa Capital IM L.P. lifted its holdings in Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after purchasing an additional 5,100,000 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Warner Bros. Discovery by 781.3% in the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after buying an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. grew its stake in Warner Bros. Discovery by 97.6% in the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after buying an additional 2,272,245 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on 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. Morgan Stanley dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Trading Down 2.8 %

Shares of WBD stock opened at $7.78 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market cap of $19.06 billion, a P/E ratio of -6.27 and a beta of 1.48. The business has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $7.89. 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 issued its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.51) EPS. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 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.