Wesbanco Bank Inc. Sells 2,514 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wesbanco Bank Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,735 shares of the company’s stock after selling 2,514 shares during the quarter. Wesbanco Bank Inc.’s holdings in Warner Bros. Discovery were worth $163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Sessa Capital IM L.P. grew its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares during the period. Retirement Systems of Alabama grew its holdings in Warner Bros. Discovery by 781.3% during the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp increased its position in Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in shares of Warner Bros. Discovery by 14.6% in the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock worth $180,016,000 after buying an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. lifted its position in shares of Warner Bros. Discovery by 97.6% during the 1st quarter. Drexel Morgan & Co. now owns 4,600,463 shares of the company’s stock valued at $40,162,000 after buying an additional 2,272,245 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $8.00 on Thursday. The firm has a market capitalization of $19.60 billion, a PE ratio of -6.45 and a beta of 1.48. The stock’s fifty day moving average is $7.74 and its 200 day moving average is $7.89. 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 quick ratio of 0.76 and a current ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last released 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 firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) EPS. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WBD shares. Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Benchmark reissued a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wells Fargo & Company dropped their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Macquarie cut their target price on 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. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price of $10.66.

About Warner Bros. Discovery

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.