Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,648 shares of the company’s stock after selling 1,492 shares during the period. J.W. Cole Advisors Inc.’s holdings in Warner Bros. Discovery were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in Warner Bros. Discovery by 15.2% during the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after buying an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock valued at $4,594,000 after purchasing an additional 120,586 shares during the period. New South Capital Management Inc. raised its position in Warner Bros. Discovery by 21.1% in the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock valued at $44,334,000 after purchasing an additional 711,820 shares during the period. Assenagon Asset Management S.A. raised its position in Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after purchasing an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at $105,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on WBD shares. Benchmark restated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Morgan Stanley cut their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Macquarie cut their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Barrington Research cut their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Trading Down 1.1 %

NASDAQ:WBD opened at $8.29 on Friday. The stock has a 50-day simple moving average of $8.69 and a 200-day simple moving average of $10.01. The stock has a market cap of $20.23 billion, a P/E ratio of -6.47 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 1 year low of $8.02 and a 1 year high of $14.76. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 earnings per share 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.