Sentry Investment Management LLC Trims Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sentry Investment Management LLC reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,596 shares of the company’s stock after selling 1,246 shares during the quarter. Sentry Investment Management LLC’s holdings in Warner Bros. Discovery were worth $132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at $25,000. Peoples Bank KS bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $27,000. Pacifica Partners Inc. increased its holdings in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the period. Milestone Investment Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter worth $28,000. Finally, Headinvest LLC purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $28,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WBD. Barrington Research lowered their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Macquarie decreased their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Citigroup cut their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Barclays decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.24.

Warner Bros. Discovery Trading Up 1.1 %

NASDAQ:WBD opened at $8.23 on Thursday. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The firm has a market cap of $20.08 billion, a PE ratio of -6.43 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a fifty day moving average price of $8.82 and a 200 day moving average price of $10.07.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 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.