Securian Asset Management Inc. Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Securian Asset Management Inc. trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.9% in the second quarter, HoldingsChannel reports. The firm owned 128,213 shares of the company’s stock after selling 2,490 shares during the period. Securian Asset Management Inc.’s holdings in Warner Bros. Discovery were worth $954,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WBD. Public Employees Retirement Association of Colorado grew its position in shares of Warner Bros. Discovery by 5,128.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after purchasing an additional 343,854 shares during the period. Thompson Investment Management Inc. grew its holdings in Warner Bros. Discovery by 23.5% in the 1st quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after buying an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Warner Bros. Discovery by 8.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after acquiring an additional 5,081 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Warner Bros. Discovery during the 1st quarter worth about $182,000. Finally, SageView Advisory Group LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $129,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded down $0.30 during trading hours on Monday, reaching $6.73. The company’s stock had a trading volume of 34,062,906 shares, compared to its average volume of 28,821,527. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $7.74 and a 200 day simple moving average of $8.37. Warner Bros. Discovery, Inc. has a 52 week low of $6.66 and a 52 week high of $13.81. The stock has a market cap of $16.49 billion, a PE ratio of -5.67 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Moffett Nathanson decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their target price on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company dropped their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price for the company in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.39.

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 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.