Alan B Lancz & Associates Inc. Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Alan B Lancz & Associates Inc. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 22.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,391 shares of the company’s stock after selling 2,997 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Warner Bros. Discovery were worth $118,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Boston Partners boosted its stake in Warner Bros. Discovery by 43.0% during the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Warner Bros. Discovery by 16.6% during the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after buying an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Warner Bros. Discovery by 12.1% during the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after buying an additional 2,356,665 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 1,232.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after buying an additional 1,524,370 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Warner Bros. Discovery by 55.5% during the third quarter. UBS Group AG now owns 3,964,873 shares of the company’s stock worth $43,059,000 after buying an additional 1,415,744 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.02 during trading hours on Friday, reaching $7.97. The company had a trading volume of 35,712,311 shares, compared to its average volume of 30,227,984. Warner Bros. Discovery, Inc. has a 1-year low of $7.34 and a 1-year high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $8.45 and a 200 day moving average of $9.88.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same period in the prior year, the company posted $0.42 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WBD. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a report on Thursday, January 11th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th. Morgan Stanley dropped their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Finally, Barclays dropped their price objective 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 Thursday, February 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $13.83.

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.