Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Decreased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.9% during the second quarter, HoldingsChannel.com reports. The fund owned 15,097 shares of the company’s stock after selling 6,452 shares during the period. J.W. Cole Advisors Inc.’s holdings in Warner Bros. Discovery were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado grew its position in shares of Warner Bros. Discovery by 5,128.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock worth $3,989,000 after acquiring an additional 343,854 shares during the last quarter. Thompson Investment Management Inc. increased its stake in shares of Warner Bros. Discovery by 23.5% in the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock valued at $9,768,000 after purchasing an additional 213,149 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Warner Bros. Discovery by 8.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock valued at $584,000 after buying an additional 5,081 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter worth approximately $182,000. Finally, SageView Advisory Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth approximately $129,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 0.2 %

NASDAQ WBD opened at $8.40 on Friday. The firm’s 50 day moving average price is $7.84 and its two-hundred day moving average price is $7.98. 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 twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market cap of $20.58 billion, a price-to-earnings ratio of -6.77 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The business had revenue of $9.71 billion for 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 quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.51) EPS. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Macquarie reduced their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Barrington Research reissued an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. Evercore ISI reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, TD Cowen cut their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.93.

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.