Capco Asset Management LLC Sells 364,733 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Capco Asset Management LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 10.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,056,977 shares of the company's stock after selling 364,733 shares during the period. Warner Bros. Discovery makes up approximately 5.4% of Capco Asset Management LLC's holdings, making the stock its 11th biggest position. Capco Asset Management LLC owned approximately 0.12% of Warner Bros. Discovery worth $22,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WBD. The Manufacturers Life Insurance Company increased its position in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company's stock valued at $290,579,000 after purchasing an additional 3,710,343 shares during the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Warner Bros. Discovery by 14.6% during the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company's stock valued at $180,016,000 after purchasing an additional 2,621,582 shares during the last quarter. Norges Bank purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $198,916,000. Bank of New York Mellon Corp increased its position in shares of Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company's stock valued at $105,595,000 after purchasing an additional 719,869 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Warner Bros. Discovery by 1.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company's stock valued at $96,784,000 after purchasing an additional 123,693 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WBD shares. Rosenblatt Securities reaffirmed a "neutral" rating and set a $9.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barrington Research reissued an "outperform" rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Finally, TD Cowen reduced their target price on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.93.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.02 during midday trading on Thursday, reaching $8.40. 24,451,486 shares of the stock traded hands, compared to its average volume of 29,610,189. 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 stock has a market capitalization of $20.58 billion, a PE ratio of -6.84 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company's 50 day moving average is $7.82 and its 200 day moving average is $7.97.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). The firm 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 was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.51) earnings per share. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

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.