Auxier Asset Management Sells 7,822 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Auxier Asset Management trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,836 shares of the company’s stock after selling 7,822 shares during the quarter. Auxier Asset Management’s holdings in Warner Bros. Discovery were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Private Management Group Inc. increased its holdings in shares of Warner Bros. Discovery by 37.7% in 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 raised its position in shares of Warner Bros. Discovery by 22.7% during 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 lifted its holdings 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 acquiring an additional 2,780,986 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Warner Bros. Discovery by 629.4% in the third 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. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $10.38 on Friday. The firm’s fifty day moving average is $8.49 and its two-hundred day moving average is $8.02. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WBD shares. Macquarie raised their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average 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.