Sentry Investment Management LLC Sells 1,246 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sentry Investment Management LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,596 shares of the company’s stock after selling 1,246 shares during the quarter. Sentry Investment Management LLC’s holdings in Warner Bros. Discovery were worth $132,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp lifted its stake in Warner Bros. Discovery by 2.2% during the first quarter. State Street Corp now owns 109,844,866 shares of the company’s stock worth $1,658,653,000 after purchasing an additional 2,403,255 shares during the period. Geode Capital Management LLC grew its holdings in Warner Bros. Discovery by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 48,394,472 shares of the company’s stock worth $729,158,000 after acquiring an additional 620,993 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Warner Bros. Discovery by 124,559.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock valued at $266,158,000 after buying an additional 28,053,216 shares during the period. Finally, Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 5.4% during the 4th quarter. Sessa Capital IM L.P. now owns 23,450,633 shares of the company’s stock valued at $222,312,000 after purchasing an additional 1,195,666 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on WBD shares. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a report on Thursday, January 11th. Morgan Stanley lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Finally, Barclays lowered their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $8.23 on Thursday. The stock has a market capitalization of $20.08 billion, a PE ratio of -6.43 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76. The stock has a 50 day moving average price of $8.82 and a 200 day moving average price of $10.07. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

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