Sei Investments Co. Acquires 60,458 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sei Investments Co. increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 582,071 shares of the company’s stock after purchasing an additional 60,458 shares during the quarter. Sei Investments Co.’s holdings in Warner Bros. Discovery were worth $4,330,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement Association of Colorado lifted its holdings in Warner Bros. Discovery by 5,128.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after buying an additional 343,854 shares during the period. Thompson Investment Management Inc. lifted its holdings in Warner Bros. Discovery by 23.5% in the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after buying an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Warner Bros. Discovery by 8.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares during the period. Global Assets Advisory LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at $182,000. Finally, SageView Advisory Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $129,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 1.1 %

WBD opened at $8.16 on Wednesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50-day moving average is $7.86 and its 200 day moving average is $7.95. The firm has a market capitalization of $19.99 billion, a PE ratio of -6.58 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period in the previous year, the company posted ($0.51) earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of several recent analyst reports. Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. TD Cowen dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, The Goldman Sachs Group dropped their price objective on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.93.

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.