Mutual of America Capital Management LLC Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mutual of America Capital Management LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 259,565 shares of the company’s stock after selling 7,825 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,785,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WBD. Norges Bank purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $362,210,000. FMR LLC increased its position in shares of Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company’s stock valued at $150,925,000 after purchasing an additional 11,810,191 shares during the last quarter. Slate Path Capital LP increased its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock valued at $251,577,000 after purchasing an additional 6,381,000 shares during the last quarter. KBC Group NV grew its stake in shares of Warner Bros. Discovery by 682.8% during the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company’s stock worth $76,669,000 after acquiring an additional 6,232,561 shares during the period. Finally, Sachem Head Capital Management LP bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth $64,847,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Bank of America increased their price target on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Finally, KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Twelve analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $12.41.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $12.75 on Friday. The company has a market cap of $31.30 billion, a PE ratio of -2.90 and a beta of 1.54. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $10.45 and a 200-day moving average price of $10.03. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $13.04.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) EPS. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.