Entropy Technologies LP Sells 202,383 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Entropy Technologies LP trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 280,088 shares of the company’s stock after selling 202,383 shares during the quarter. Entropy Technologies LP’s holdings in Warner Bros. Discovery were worth $2,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WBD. OFI Invest Asset Management raised its stake in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the last quarter. GAM Holding AG boosted its holdings in shares of Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock valued at $3,776,000 after acquiring an additional 1,437 shares during the last quarter. Waldron Private Wealth LLC grew its stake in shares of Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after acquiring an additional 1,461 shares during the period. PFG Investments LLC raised its holdings in shares of Warner Bros. Discovery by 1.4% during the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its position in Warner Bros. Discovery by 13.1% during the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after purchasing an additional 1,565 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WBD shares. TD Cowen decreased 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 research note on Thursday, August 8th. Barrington Research reissued an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Evercore ISI cut their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.22 on Wednesday. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of -2.01 and a beta of 1.48. The firm has a fifty day moving average price of $7.97 and a 200 day moving average price of $7.84. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.76 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.55 earnings per share for the current fiscal 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.