Aptus Capital Advisors LLC Trims Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Aptus Capital Advisors LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,238 shares of the company’s stock after selling 2,053 shares during the period. Aptus Capital Advisors LLC’s holdings in Warner Bros. Discovery were worth $175,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Private Management Group Inc. increased its position in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of 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. International Assets Investment Management LLC boosted its position in shares of Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock valued at $1,561,000 after acquiring an additional 163,295 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Warner Bros. Discovery by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after acquiring an additional 105,321 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of several recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Evercore ISI decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target 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. Finally, Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $9.22 on Friday. The firm has a fifty day simple moving average of $8.10 and a two-hundred day simple moving average of $7.88. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a market capitalization of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS 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.