Biechele Royce Advisors Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Biechele Royce Advisors lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 322,898 shares of the company’s stock after selling 4,219 shares during the quarter. Warner Bros. Discovery makes up about 0.8% of Biechele Royce Advisors’ portfolio, making the stock its 23rd largest holding. Biechele Royce Advisors’ holdings in Warner Bros. Discovery were worth $2,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its stake 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 worth $3,989,000 after acquiring an additional 343,854 shares during the last quarter. Thompson Investment Management Inc. boosted its holdings in 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 valued at $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Warner Bros. Discovery by 8.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares during the period. Global Assets Advisory LLC purchased a new position in Warner Bros. Discovery in the first quarter valued at $182,000. Finally, SageView Advisory Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $129,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD traded up $0.11 on Friday, reaching $7.84. The stock had a trading volume of 25,025,142 shares, compared to its average volume of 29,095,063. The firm has a market capitalization of $19.21 billion, a PE ratio of -6.32 and a beta of 1.49. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average of $7.71 and a 200 day moving average of $8.13. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.31.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) EPS. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group decreased their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, August 8th. Barclays decreased their price target 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. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a report on Friday, May 10th. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Finally, TD Cowen reduced their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average target price of $11.25.

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.