Dimensional Fund Advisors LP Sells 3,110,875 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Dimensional Fund Advisors LP cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 7,946,456 shares of the company’s stock after selling 3,110,875 shares during the period. Dimensional Fund Advisors LP’s holdings in Warner Bros. Discovery were worth $59,111,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Poehling Capital Management INC. boosted its position in shares of Warner Bros. Discovery by 15.0% during the second quarter. Poehling Capital Management INC. now owns 744,631 shares of the company’s stock valued at $5,540,000 after buying an additional 96,951 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Warner Bros. Discovery during the second quarter valued at $87,000. Thompson Siegel & Walmsley LLC boosted its position in shares of Warner Bros. Discovery by 23.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after buying an additional 1,452,913 shares during the last quarter. Williams Financial LLC purchased a new stake in shares of Warner Bros. Discovery during the second quarter valued at $322,000. Finally, Envestnet Asset Management Inc. boosted its position in Warner Bros. Discovery by 18.7% in the second quarter. Envestnet Asset Management Inc. now owns 1,818,685 shares of the company’s stock worth $13,531,000 after purchasing an additional 286,654 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on WBD shares. TD Cowen dropped their target price on 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. Moffett Nathanson dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Morgan Stanley dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Barclays dropped their target price on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $10.00 to $8.00 in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Stock Up 1.0 %

Shares of WBD opened at $8.38 on Friday. The business’s 50 day moving average is $7.87 and its 200 day moving average is $7.97. The company has a market capitalization of $20.53 billion, a PE ratio of -6.76 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the business posted ($0.51) EPS. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.