Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.0% during the first quarter, Holdings Channel reports. The firm owned 349,990 shares of the company’s stock after selling 22,513 shares during the period. Addenda Capital Inc.’s holdings in Warner Bros. Discovery were worth $3,055,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of WBD. Fortis Group Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter valued at approximately $25,000. Pacifica Partners Inc. increased its holdings in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Headinvest LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at approximately $28,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC increased its stake in Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wolfe Research lowered Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research report on Tuesday, April 23rd. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a research report on Tuesday. They set a “neutral” rating and a $8.50 price target for the company. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Friday, May 10th. Finally, Sanford C. Bernstein decreased their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.82.

Warner Bros. Discovery Trading Up 1.2 %

Shares of NASDAQ:WBD opened at $7.44 on Friday. The business’s 50 day simple moving average is $7.86 and its 200-day simple moving average is $9.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery, Inc. has a 12 month low of $6.94 and a 12 month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly 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). The firm had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. Warner Bros. Discovery’s revenue was down 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current 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.