Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 28.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,946,456 shares of the company's stock after selling 3,110,875 shares during the period. Dimensional Fund Advisors LP owned approximately 0.32% of Warner Bros. Discovery worth $59,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBD. Poehling Capital Management INC. grew its position in Warner Bros. Discovery by 15.0% in the second quarter. Poehling Capital Management INC. now owns 744,631 shares of the company's stock worth $5,540,000 after acquiring an additional 96,951 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter worth approximately $87,000. Thompson Siegel & Walmsley LLC increased its position in shares of Warner Bros. Discovery by 23.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company's stock valued at $56,116,000 after purchasing an additional 1,452,913 shares during the last quarter. Williams Financial LLC purchased a new stake in Warner Bros. Discovery during the 2nd quarter valued at $322,000. Finally, Envestnet Asset Management Inc. lifted 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 buying an additional 286,654 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.38 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market cap of $20.53 billion, a price-to-earnings ratio of -6.76 and a beta of 1.48. The company's 50 day moving average is $7.87 and its 200 day moving average is $7.97. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($3.89). The company 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%. Warner Bros. Discovery's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.51) EPS. On average, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WBD shares. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Morgan Stanley reduced their price objective on shares of 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. Moffett Nathanson dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Benchmark reiterated a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, 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 report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.