Sterneck Capital Management LLC Lowers Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sterneck Capital Management LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 49.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,088 shares of the company’s stock after selling 9,909 shares during the period. Sterneck Capital Management LLC’s holdings in Warner Bros. Discovery were worth $83,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WBD. University of Texas Texas AM Investment Managment Co. purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $33,000. Crewe Advisors LLC bought a new position in shares of Warner Bros. Discovery in the 1st quarter worth $27,000. First Financial Corp IN raised its position in shares of Warner Bros. Discovery by 577.4% during the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after buying an additional 2,887 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery during the 2nd quarter worth $26,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Warner Bros. Discovery in the first quarter worth $33,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $7.74 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $18.97 billion, a PE ratio of -6.24 and a beta of 1.48. The stock’s 50 day moving average price is $7.84 and its 200-day moving average price is $7.95. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). The company 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 firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) earnings per share. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WBD. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Macquarie dropped their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, August 8th. TD Cowen decreased their price target on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.