Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by American International Group Inc.

American International Group Inc. reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 826,055 shares of the company’s stock after selling 6,497 shares during the quarter. American International Group Inc.’s holdings in Warner Bros. Discovery were worth $7,211,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Bridgeworth LLC raised its stake in Warner Bros. Discovery by 7.4% during the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after acquiring an additional 952 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Warner Bros. Discovery by 20.8% in the 4th quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock worth $68,000 after acquiring an additional 1,076 shares during the period. FinTrust Capital Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the period. Personal CFO Solutions LLC grew its holdings in shares of Warner Bros. Discovery by 4.6% in the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after acquiring an additional 1,108 shares during the period. Finally, Mraz Amerine & Associates Inc. grew its holdings in Warner Bros. Discovery by 0.6% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 183,745 shares of the company’s stock valued at $2,091,000 after buying an additional 1,124 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WBD has been the topic of several analyst reports. Sanford C. Bernstein decreased their price objective on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report 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. Macquarie lowered Warner Bros. Discovery from an “outperform” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Thursday. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research report on Friday, May 10th. Finally, Barrington Research reissued an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $11.87.

Warner Bros. Discovery Stock Down 5.7 %

NASDAQ:WBD opened at $7.99 on Friday. The company has a market capitalization of $19.58 billion, a price-to-earnings ratio of -6.44 and a beta of 1.49. Warner Bros. Discovery, Inc. has a one year low of $6.94 and a one year high of $14.76. The stock has a 50-day simple moving average of $7.73 and a 200 day simple moving average of $8.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.4 EPS for the current fiscal 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.