Tompkins Financial Corp Sells 6,235 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Tompkins Financial Corp cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 64.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,505 shares of the company’s stock after selling 6,235 shares during the period. Tompkins Financial Corp’s holdings in Warner Bros. Discovery were worth $29,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sessa Capital IM L.P. increased its holdings in Warner Bros. Discovery by 28.8% in the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock worth $169,520,000 after purchasing an additional 5,100,000 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after buying an additional 719,869 shares during the period. Yacktman Asset Management LP raised its holdings in 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. Finally, Thompson Siegel & Walmsley LLC boosted its position in Warner Bros. Discovery by 23.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock worth $56,116,000 after buying an additional 1,452,913 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WBD. Barclays upped their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday. Evercore ISI cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. cut their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $9.18 on Friday. The business’s fifty day simple moving average is $7.90 and its 200 day simple moving average is $7.83. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm has a market capitalization of $22.51 billion, a P/E ratio of -1.91 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 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 for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.17) EPS. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.55 EPS for the current year.

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.