Total Clarity Wealth Management Inc. Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Total Clarity Wealth Management Inc. decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,368 shares of the company’s stock after selling 1,578 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Warner Bros. Discovery were worth $129,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in WBD. Poehling Capital Management INC. grew its holdings in shares of Warner Bros. Discovery by 15.0% during the second quarter. Poehling Capital Management INC. now owns 744,631 shares of the company’s stock worth $5,540,000 after buying an additional 96,951 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at approximately $87,000. Thompson Siegel & Walmsley LLC increased its holdings in shares of Warner Bros. Discovery by 23.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after purchasing an additional 1,452,913 shares during the period. Williams Financial LLC purchased a new stake in shares of Warner Bros. Discovery during the second quarter worth approximately $322,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Warner Bros. Discovery by 18.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,818,685 shares of the company’s stock worth $13,531,000 after purchasing an additional 286,654 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on WBD shares. Macquarie cut their price objective on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Morgan Stanley cut 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 report on Monday, July 29th. Benchmark restated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday. TD Cowen reduced their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Evercore ISI decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $10.93.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $8.56 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $20.97 billion, a PE ratio of -6.90 and a beta of 1.48. The business’s 50-day moving average price is $7.78 and its 200 day moving average price is $7.97. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The company had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same period in the prior year, the business posted ($0.51) earnings per share. Warner Bros. Discovery’s revenue was down 6.2% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Warner Bros. Discovery 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.