Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Lessened by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,747,285 shares of the company’s stock after selling 3,231 shares during the period. Thrivent Financial for Lutherans owned 0.19% of Warner Bros. Discovery worth $39,165,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter worth about $27,000. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at $26,000. OFI Invest Asset Management grew its holdings in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the last quarter. Transcendent Capital Group LLC lifted its position in shares of Warner Bros. Discovery by 665.4% in the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after purchasing an additional 3,480 shares during the period. Finally, LRI Investments LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $39,000. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WBD shares. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Macquarie raised their target price on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company dropped their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Stock Performance

WBD stock opened at $9.47 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50-day moving average price of $8.10 and a 200 day moving average price of $7.88. The company has a market capitalization of $23.22 billion, a P/E ratio of -2.07 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 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 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. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal 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.