Entropy Technologies LP Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Entropy Technologies LP decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,088 shares of the company’s stock after selling 202,383 shares during the period. Entropy Technologies LP’s holdings in Warner Bros. Discovery were worth $2,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sessa Capital IM L.P. increased its position in Warner Bros. Discovery by 28.8% during the second quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares during the last quarter. Retirement Systems of Alabama raised its position in Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp lifted its stake in Warner Bros. Discovery by 1,216.7% in the second 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 during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Warner Bros. Discovery by 14.6% during the first quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after buying an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. raised its holdings in shares of Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on WBD shares. Macquarie upped their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. TD Cowen reduced their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Down 1.2 %

Shares of Warner Bros. Discovery stock opened at $9.22 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The firm’s 50 day moving average price is $7.97 and its 200-day moving average price is $7.84. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.55 EPS for the current fiscal 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.