Waldron Private Wealth LLC Decreases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Waldron Private Wealth LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,887 shares of the company’s stock after selling 1,369 shares during the quarter. Waldron Private Wealth LLC’s holdings in Warner Bros. Discovery were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. FinTrust Capital Advisors LLC lifted its position in shares of Warner Bros. Discovery by 56.3% in the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after acquiring an additional 1,105 shares in the last quarter. Personal CFO Solutions LLC lifted its holdings in Warner Bros. Discovery by 4.6% in the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock valued at $286,000 after purchasing an additional 1,108 shares in the last quarter. Holistic Financial Partners lifted its holdings in Warner Bros. Discovery by 5.8% in the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock valued at $242,000 after purchasing an additional 1,167 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Warner Bros. Discovery by 3.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 37,182 shares of the company’s stock worth $423,000 after purchasing an additional 1,172 shares during the last quarter. Finally, OFI Invest Asset Management grew its holdings in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 1.4 %

NASDAQ WBD opened at $7.84 on Tuesday. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of -6.32 and a beta of 1.49. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $13.31. The company’s 50 day moving average price is $7.72 and its 200 day moving average price is $8.09.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) EPS. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -3.65 EPS for the current year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Evercore ISI reduced their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, August 8th. Morgan Stanley dropped their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.25.

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.