Beese Fulmer Investment Management Inc. Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Beese Fulmer Investment Management Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,158 shares of the company’s stock after selling 13,698 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new stake in Warner Bros. Discovery during the third quarter worth approximately $25,000. Pacifica Partners Inc. raised its holdings in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares in the last quarter. Headinvest LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $28,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at $33,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of 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. Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday. Citigroup cut their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a report on Tuesday, April 23rd. Finally, KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.16.

Warner Bros. Discovery Stock Down 2.4 %

Shares of NASDAQ WBD opened at $6.99 on Thursday. Warner Bros. Discovery, Inc. has a one year low of $6.96 and a one year high of $14.76. The company’s fifty day moving average is $8.01 and its two-hundred day moving average is $9.29. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 EPS 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.