Congress Park Capital LLC Decreases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Congress Park Capital LLC cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,813 shares of the company’s stock after selling 21,325 shares during the period. Congress Park Capital LLC’s holdings in Warner Bros. Discovery were worth $435,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WBD. Public Employees Retirement Association of Colorado grew its position in Warner Bros. Discovery by 5,128.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after buying an additional 343,854 shares during the period. Thompson Investment Management Inc. boosted its position in shares of Warner Bros. Discovery by 23.5% in the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after purchasing an additional 213,149 shares during the period. SageView Advisory Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $129,000. Assenagon Asset Management S.A. boosted its position in shares of Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after purchasing an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter worth $105,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WBD. Sanford C. Bernstein reduced their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Barrington Research reiterated an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. The Goldman Sachs Group started coverage on shares of Warner Bros. Discovery in a research note on Tuesday. They set a “neutral” rating and a $8.50 price objective for the company. Finally, Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.82.

Warner Bros. Discovery Price Performance

NASDAQ:WBD traded up $0.11 during trading hours on Friday, hitting $7.46. The stock had a trading volume of 9,631,068 shares, compared to its average volume of 27,759,328. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a 1-year low of $6.94 and a 1-year high of $14.76. The business has a 50 day simple moving average of $7.88 and a two-hundred day simple moving average of $9.14.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

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.