Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,688 shares of the company’s stock after selling 11,603 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Warner Bros. Discovery were worth $984,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Warner Bros. Discovery by 9.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock valued at $160,000 after purchasing an additional 1,318 shares in the last quarter. Bessemer Group Inc. increased its stake in Warner Bros. Discovery by 11.4% in the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock valued at $139,000 after purchasing an additional 1,338 shares in the last quarter. CX Institutional increased its stake in Warner Bros. Discovery by 5.7% in the 1st quarter. CX Institutional now owns 27,324 shares of the company’s stock valued at $293,000 after purchasing an additional 1,465 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its position in Warner Bros. Discovery by 9.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company’s stock worth $202,000 after buying an additional 1,561 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WBD shares. Wells Fargo & Company raised their price target on Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 2nd. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, June 9th. Argus raised Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, July 14th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Twelve equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.41.

Warner Bros. Discovery Stock Down 0.7%

NASDAQ:WBD opened at $12.75 on Friday. The firm has a market capitalization of $31.30 billion, a PE ratio of -2.90 and a beta of 1.54. The stock has a 50 day moving average of $10.45 and a 200-day moving average of $10.03. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $13.04. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99.

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

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.