ProShare Advisors LLC Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ProShare Advisors LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,318,410 shares of the company’s stock after selling 125,215 shares during the period. ProShare Advisors LLC owned about 0.10% of Warner Bros. Discovery worth $29,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC increased its holdings in Warner Bros. Discovery by 274.6% during the first quarter. Manchester Capital Management LLC now owns 1,817 shares of the company’s stock valued at $27,000 after buying an additional 1,332 shares during the last quarter. Hanson & Doremus Investment Management increased its stake in shares of Warner Bros. Discovery by 2,218.0% in the 2nd quarter. Hanson & Doremus Investment Management now owns 2,318 shares of the company’s stock worth $29,000 after purchasing an additional 2,218 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Warner Bros. Discovery by 156.8% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 2,324 shares of the company’s stock worth $29,000 after purchasing an additional 1,419 shares in the last quarter. KB Financial Partners LLC bought a new position in Warner Bros. Discovery in the 1st quarter worth $32,000. Finally, FNY Investment Advisers LLC lifted its position in Warner Bros. Discovery by 1,036.3% during the second quarter. FNY Investment Advisers LLC now owns 2,727 shares of the company’s stock valued at $34,000 after purchasing an additional 2,487 shares in the last quarter. 58.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Guggenheim decreased their price objective on Warner Bros. Discovery from $18.00 to $15.00 in a research note on Wednesday, October 4th. Seaport Res Ptn restated a “buy” rating on shares of Warner Bros. Discovery in a research note on Friday, October 6th. Raymond James dropped their price target on shares of Warner Bros. Discovery from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Truist Financial restated a “buy” rating and set a $17.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, September 6th. Finally, Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $20.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $16.73.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $10.74 on Tuesday. The firm has a market cap of $26.18 billion, a PE ratio of -5.42 and a beta of 1.61. The stock has a 50 day moving average of $10.64 and a 200 day moving average of $11.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.95. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $16.34.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.16). Warner Bros. Discovery had a negative return on equity of 0.47% and a negative net margin of 11.48%. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.97 billion. During the same period last year, the company earned $0.17 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -1.18 EPS for the current fiscal year.

About Warner Bros. Discovery

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 third parties and networks 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.