Amalgamated Bank Sells 219,547 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Amalgamated Bank lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 448,780 shares of the company's stock after selling 219,547 shares during the quarter. Amalgamated Bank's holdings in Warner Bros. Discovery were worth $3,702,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. grew its holdings in shares of Warner Bros. Discovery by 8.1% in the third quarter. Quintet Private Bank Europe S.A. now owns 254,321 shares of the company's stock worth $2,098,000 after acquiring an additional 19,012 shares during the period. Asset Management One Co. Ltd. boosted its position in Warner Bros. Discovery by 5.5% in the third quarter. Asset Management One Co. Ltd. now owns 919,611 shares of the company's stock worth $7,587,000 after purchasing an additional 47,542 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Warner Bros. Discovery by 26.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,826,492 shares of the company's stock valued at $23,319,000 after purchasing an additional 586,198 shares during the period. Coronation Fund Managers Ltd. increased its position in shares of Warner Bros. Discovery by 18.7% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 3,663,240 shares of the company's stock valued at $30,222,000 after purchasing an additional 577,066 shares during the last quarter. Finally, Prosperitas Financial LLC lifted its stake in shares of Warner Bros. Discovery by 19.8% in the 3rd quarter. Prosperitas Financial LLC now owns 126,969 shares of the company's stock worth $1,048,000 after purchasing an additional 20,984 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on WBD shares. Moffett Nathanson reduced their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Morgan Stanley decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Warner Bros. Discovery from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery currently has an average rating of "Hold" and a consensus target price of $10.55.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded down $0.19 during trading on Friday, hitting $9.18. 52,663,437 shares of the stock traded hands, compared to its average volume of 24,571,940. The company has a market capitalization of $22.51 billion, a P/E ratio of -1.91 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a 50-day simple moving average of $7.90 and a 200-day simple moving average of $7.83. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Warner Bros. Discovery's quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.55 EPS for the current year.

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.