Newport Trust Company LLC Sells 486,243 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Newport Trust Company LLC decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,776,827 shares of the company's stock after selling 486,243 shares during the quarter. Newport Trust Company LLC owned about 0.40% of Warner Bros. Discovery worth $72,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Family Firm Inc. purchased a new stake in shares of Warner Bros. Discovery in the second quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery in the first quarter valued at approximately $27,000. OFI Invest Asset Management increased its position in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock valued at $27,000 after acquiring an additional 1,221 shares during the last quarter. First Financial Corp IN lifted its holdings in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company's stock worth $30,000 after acquiring an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. bought a new position in Warner Bros. Discovery during the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WBD. Deutsche Bank Aktiengesellschaft decreased their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company lowered their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. Morgan Stanley cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. Barrington Research reiterated an "outperform" rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. Finally, Sanford C. Bernstein lowered Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.93.

Warner Bros. Discovery Trading Down 1.9 %

Shares of NASDAQ WBD traded down $0.16 during midday trading on Friday, hitting $8.24. 46,804,975 shares of the company traded hands, compared to its average volume of 29,708,102. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The stock has a 50-day moving average price of $7.86 and a 200 day moving average price of $7.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $20.19 billion, a P/E ratio of -6.65 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly 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 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%. The firm's revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.51) earnings per share. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current 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.