Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Gladius Capital Management LP

Gladius Capital Management LP lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,935 shares of the company’s stock after selling 2,485 shares during the period. Warner Bros. Discovery comprises approximately 0.1% of Gladius Capital Management LP’s holdings, making the stock its 19th biggest holding. Gladius Capital Management LP’s holdings in Warner Bros. Discovery were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WBD. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. First Financial Corp IN increased its stake in Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares during the period. University of Texas Texas AM Investment Managment Co. acquired a new position in Warner Bros. Discovery in the 4th quarter worth $33,000. Future Financial Wealth Managment LLC purchased a new position in Warner Bros. Discovery in the 1st quarter valued at about $33,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at about $35,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

WBD stock traded up $0.17 during trading hours on Friday, hitting $7.41. 34,364,385 shares of the stock traded hands, compared to its average volume of 29,069,777. The stock has a 50-day simple moving average of $7.62 and a 200 day simple moving average of $8.28. The company has a market cap of $18.16 billion, a P/E ratio of -5.98 and a beta of 1.49. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $13.31. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the subject of a number of research analyst reports. Barclays dropped their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Evercore ISI cut their target price on shares of 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. The Goldman Sachs Group decreased their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $10.00 to $8.00 in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.25.

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.