Commonwealth Equity Services LLC Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Commonwealth Equity Services LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 537,843 shares of the company’s stock after selling 52,437 shares during the period. Commonwealth Equity Services LLC’s holdings in Warner Bros. Discovery were worth $5,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. raised its position in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares in the last quarter. Ethos Financial Group LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $29,000. Briaud Financial Planning Inc lifted its stake in shares of Warner Bros. Discovery by 258.1% in the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after purchasing an additional 2,000 shares during the period. Finally, Sugar Maple Asset Management LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth $33,000. 59.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WBD has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Bank of America reaffirmed a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $10.74 on Friday. The firm has a market capitalization of $26.36 billion, a P/E ratio of -2.34, a PEG ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The business has a fifty day moving average of $10.40 and a 200 day moving average of $9.58.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 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.