Prospera Financial Services Inc Trims Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prospera Financial Services Inc reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,022 shares of the company’s stock after selling 1,305 shares during the period. Prospera Financial Services Inc’s holdings in Warner Bros. Discovery were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its stake in Warner Bros. Discovery by 6.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 67,339 shares of the company’s stock worth $588,000 after acquiring an additional 3,984 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Warner Bros. Discovery during the first quarter valued at approximately $119,000. Quadrature Capital Ltd purchased a new position in Warner Bros. Discovery during the first quarter valued at approximately $836,000. Lazard Asset Management LLC raised its stake in Warner Bros. Discovery by 47.7% in the first quarter. Lazard Asset Management LLC now owns 10,558 shares of the company’s stock worth $91,000 after buying an additional 3,412 shares in the last quarter. Finally, BOKF NA lifted its holdings in Warner Bros. Discovery by 2,181.8% during the first quarter. BOKF NA now owns 119,933 shares of the company’s stock worth $1,054,000 after buying an additional 114,677 shares during the period. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Moffett Nathanson reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Raymond James boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Macquarie raised their price target 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 reduced 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, Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. 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, the company currently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Up 2.9 %

WBD stock opened at $10.40 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 firm’s fifty day simple moving average is $8.34 and its 200-day simple moving average is $7.95. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market capitalization of $25.51 billion, a P/E ratio of -2.27 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 company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current 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.