STF Management LP Sells 1,907 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

STF Management LP lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,871 shares of the company’s stock after selling 1,907 shares during the quarter. STF Management LP’s holdings in Warner Bros. Discovery were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after purchasing an additional 3,710,343 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 14.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after acquiring an additional 2,621,582 shares during the period. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $198,916,000. Bank of New York Mellon Corp raised its stake in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after acquiring an additional 719,869 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in Warner Bros. Discovery by 1.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock valued at $96,784,000 after purchasing an additional 123,693 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on WBD shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barrington Research reissued an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Evercore ISI decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Moffett Nathanson dropped their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average target price of $10.93.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.56 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $20.97 billion, a PE ratio of -6.90 and a beta of 1.48. The firm has a 50 day moving average of $7.78 and a 200-day moving average of $7.97. 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 announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 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.