Rockefeller Capital Management L.P. Cuts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rockefeller Capital Management L.P. reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,622,884 shares of the company’s stock after selling 348,871 shares during the period. Rockefeller Capital Management L.P. owned 0.07% of Warner Bros. Discovery worth $13,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in Warner Bros. Discovery by 31.0% during the first quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock valued at $2,751,000 after purchasing an additional 74,587 shares during the last quarter. Tidal Investments LLC grew its position in Warner Bros. Discovery by 8.2% in the first quarter. Tidal Investments LLC now owns 86,806 shares of the company’s stock worth $757,000 after acquiring an additional 6,591 shares in the last quarter. Cetera Investment Advisers increased its stake in Warner Bros. Discovery by 356.6% during the first quarter. Cetera Investment Advisers now owns 498,545 shares of the company’s stock worth $4,352,000 after acquiring an additional 389,366 shares during the last quarter. Cetera Advisors LLC raised its position in Warner Bros. Discovery by 26.5% during the first quarter. Cetera Advisors LLC now owns 89,301 shares of the company’s stock valued at $780,000 after purchasing an additional 18,699 shares during the period. Finally, First Hawaiian Bank lifted its stake in shares of Warner Bros. Discovery by 3.1% in the 2nd quarter. First Hawaiian Bank now owns 56,830 shares of the company’s stock valued at $423,000 after purchasing an additional 1,713 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Up 0.8 %

NASDAQ WBD opened at $10.56 on Tuesday. The business has a fifty day moving average price of $8.58 and a 200 day moving average price of $8.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $25.91 billion, a P/E ratio of -2.31 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WBD. Barrington Research restated an “outperform” rating and issued a $12.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. Macquarie increased their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Moffett Nathanson reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. 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, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus price target of $10.55.

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.