Oppenheimer & Co. Inc. Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Oppenheimer & Co. Inc. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 356,891 shares of the company’s stock after selling 21,178 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Warner Bros. Discovery were worth $2,944,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Private Management Group Inc. raised its position in Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after purchasing an additional 1,886,868 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Warner Bros. Discovery by 629.4% in the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after acquiring an additional 163,295 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Warner Bros. Discovery by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after acquiring an additional 105,321 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $9.22 on Friday. The firm has a market cap of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average of $8.10 and a 200 day moving average of $7.88.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the company posted ($0.17) earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. TD Cowen decreased their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Finally, Macquarie boosted their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $10.55.

About Warner Bros. Discovery

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.