Miracle Mile Advisors LLC Sells 1,479 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Miracle Mile Advisors LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,300 shares of the company’s stock after selling 1,479 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Warner Bros. Discovery were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WBD. Elo Mutual Pension Insurance Co lifted its holdings in Warner Bros. Discovery by 5.0% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 202,923 shares of the company’s stock valued at $2,309,000 after acquiring an additional 9,704 shares during the period. Mango Investments LLC bought a new position in Warner Bros. Discovery in the fourth quarter valued at about $10,826,000. Caas Capital Management LP bought a new position in Warner Bros. Discovery in the fourth quarter valued at about $570,000. Gamco Investors INC. ET AL lifted its holdings in Warner Bros. Discovery by 5.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,168,378 shares of the company’s stock valued at $36,056,000 after acquiring an additional 176,960 shares during the period. Finally, Parkwood LLC increased its position in Warner Bros. Discovery by 39.9% in the fourth quarter. Parkwood LLC now owns 822,515 shares of the company’s stock worth $9,360,000 after buying an additional 234,459 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price objective 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. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Rosenblatt Securities reissued a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Finally, Wells Fargo & Company dropped their price objective on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.78.

Warner Bros. Discovery Stock Up 0.1 %

Shares of NASDAQ WBD opened at $7.73 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The firm’s 50-day moving average price is $7.78 and its 200-day moving average price is $7.92. The stock has a market capitalization of $18.94 billion, a price-to-earnings ratio of -6.23 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.51) earnings per share. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal 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.