Guardian Investment Management Lowers Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Guardian Investment Management reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,831 shares of the company’s stock after selling 38,012 shares during the period. Guardian Investment Management’s holdings in Warner Bros. Discovery were worth $716,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Thompson Investment Management Inc. increased its holdings in shares of 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 worth $9,768,000 after buying an additional 213,149 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after purchasing an additional 5,081 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Warner Bros. Discovery during the first quarter worth about $182,000. SageView Advisory Group LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $129,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Evercore ISI lowered their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Macquarie decreased their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Morgan Stanley dropped their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.66.

Warner Bros. Discovery Stock Performance

WBD traded down $0.02 during midday trading on Friday, hitting $7.52. 19,385,650 shares of the company traded hands, compared to its average volume of 29,217,371. The company’s 50-day moving average is $7.74 and its 200 day moving average is $7.91. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $18.43 billion, a PE ratio of -6.06 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) earnings per share. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current 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 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.