Janney Montgomery Scott LLC Sells 5,075 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Janney Montgomery Scott LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,825 shares of the company’s stock after selling 5,075 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Warner Bros. Discovery were worth $923,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sessa Capital IM L.P. boosted its position in shares of 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 worth $169,520,000 after acquiring an additional 5,100,000 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of 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 valued at $155,165,000 after purchasing an additional 235,192 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Warner Bros. Discovery by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock worth $105,595,000 after purchasing an additional 719,869 shares during the last quarter. Yacktman Asset Management LP lifted its position in shares of Warner Bros. Discovery by 1.2% in the second quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock worth $60,654,000 after buying an additional 100,565 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in Warner Bros. Discovery by 23.9% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 7,542,407 shares of the company’s stock valued at $56,116,000 after buying an additional 1,452,913 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research reports. TD Cowen lowered their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company dropped their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Evercore ISI decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price objective 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, Moffett Nathanson lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Trading Down 6.5 %

Shares of NASDAQ WBD opened at $9.22 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The business has a fifty day simple moving average of $8.10 and a two-hundred day simple moving average of $7.88. The firm has a market cap of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) EPS. Analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.