Integrated Wealth Concepts LLC Sells 6,528 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Integrated Wealth Concepts LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 60,195 shares of the company’s stock after selling 6,528 shares during the period. Integrated Wealth Concepts LLC’s holdings in Warner Bros. Discovery were worth $497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock valued at $172,338,000 after purchasing an additional 329,620 shares during the period. EdgePoint Investment Group Inc. lifted its holdings in Warner Bros. Discovery by 1.1% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after purchasing an additional 235,192 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after purchasing an additional 687,612 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Warner Bros. Discovery by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after buying an additional 719,869 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Up 3.1 %

Shares of WBD opened at $10.89 on Wednesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm has a market cap of $26.71 billion, a price-to-earnings ratio of -2.38 and a beta of 1.51. The firm has a 50 day moving average price of $8.87 and a 200-day moving average price of $8.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WBD shares. The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barrington Research restated an “outperform” rating and set a $12.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average target price of $10.71.

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.