Warner Bros. Discovery, Inc. $WBD Stock Position Lowered by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,411,707 shares of the company’s stock after selling 1,569,554 shares during the quarter. SG Americas Securities LLC owned about 0.30% of Warner Bros. Discovery worth $203,525,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in Warner Bros. Discovery in the fourth quarter worth about $1,123,807,000. Jericho Capital Asset Management L.P. boosted its position in shares of Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after purchasing an additional 18,291,865 shares in the last quarter. Duquesne Family Office LLC acquired a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $74,916,000. Amundi grew its stake in shares of Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock worth $296,189,000 after purchasing an additional 5,798,592 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $100,135,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock opened at $26.20 on Monday. Warner Bros. Discovery, Inc. has a one year low of $10.27 and a one year high of $30.00. The firm has a 50-day moving average of $27.02 and a two-hundred day moving average of $27.65. The firm has a market capitalization of $65.69 billion, a PE ratio of -37.43 and a beta of 1.54. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same period last year, the business earned ($0.18) earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

Analysts Set New Price Targets

WBD has been the subject of several recent research reports. TD Cowen increased their target price on shares of Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft cut Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their price target for the company from $29.50 to $31.00 in a report on Friday, February 27th. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, Sanford C. Bernstein raised their price objective on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Hold” and an average price target of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.