Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Busey Bank

Busey Bank lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,256 shares of the company’s stock after selling 1,493 shares during the quarter. Busey Bank’s holdings in Warner Bros. Discovery were worth $126,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. OFI Invest Asset Management raised its holdings in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares in the last quarter. GAM Holding AG raised its holdings in Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after acquiring an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC raised its holdings in Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after acquiring an additional 1,461 shares in the last quarter. Wellington Shields Capital Management LLC raised its holdings in Warner Bros. Discovery by 38.9% in the first quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock valued at $46,000 after acquiring an additional 1,488 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in Warner Bros. Discovery by 13.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after acquiring an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WBD shares. Moffett Nathanson cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. The Goldman Sachs Group raised their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Finally, TD Cowen reduced their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $10.66.

Warner Bros. Discovery Stock Up 1.1 %

Warner Bros. Discovery stock opened at $7.60 on Friday. The stock has a market cap of $18.62 billion, a price-to-earnings ratio of -6.13 and a beta of 1.48. 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 company’s 50-day moving average price is $7.82 and its two-hundred day moving average price is $7.84. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.51) EPS. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.47 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.