Swedbank AB Cuts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Swedbank AB lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 956,550 shares of the company’s stock after selling 46,086 shares during the quarter. Swedbank AB’s holdings in Warner Bros. Discovery were worth $7,892,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Private Management Group Inc. lifted its position in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 22.7% in the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock valued at $2,318,000 after buying an additional 52,051 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after buying an additional 2,780,986 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Warner Bros. Discovery by 629.4% during the 3rd quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after acquiring an additional 163,295 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 2.8 %

Warner Bros. Discovery stock opened at $10.11 on Wednesday. The stock’s 50 day moving average price is $8.38 and its 200 day moving average price is $7.97. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a market cap of $24.80 billion, a PE ratio of -2.21 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) EPS. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Raymond James lifted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Evercore ISI decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Wells Fargo & Company reduced their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 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, the company presently has an average rating of “Hold” and a consensus price target of $10.55.

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.