TCW Group Inc. Sells 49,787 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

TCW Group Inc. lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 61.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,360 shares of the company’s stock after selling 49,787 shares during the period. TCW Group Inc.’s holdings in Warner Bros. Discovery were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. FinTrust Capital Advisors LLC raised its stake in shares of Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares in the last quarter. Personal CFO Solutions LLC lifted its stake in Warner Bros. Discovery by 4.6% in the fourth quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock valued at $286,000 after acquiring an additional 1,108 shares during the last quarter. Holistic Financial Partners grew its position in shares of Warner Bros. Discovery by 5.8% in the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock valued at $242,000 after acquiring an additional 1,167 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Warner Bros. Discovery by 3.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 37,182 shares of the company’s stock worth $423,000 after purchasing an additional 1,172 shares during the last quarter. Finally, NEOS Investment Management LLC raised its holdings in shares of Warner Bros. Discovery by 1.1% in the 4th quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock valued at $1,279,000 after purchasing an additional 1,226 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.17 during mid-day trading on Friday, hitting $7.41. 34,364,385 shares of the stock traded hands, compared to its average volume of 29,069,777. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.31. The firm has a 50 day simple moving average of $7.62 and a two-hundred day simple moving average of $8.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $18.16 billion, a PE ratio of -5.98 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The business had revenue of $9.71 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same quarter in the prior year, the business earned ($0.51) earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Barrington Research reiterated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Macquarie cut their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average price target of $11.25.

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.