Capital Investment Advisors LLC Sells 10,668 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Capital Investment Advisors LLC cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,927 shares of the company’s stock after selling 10,668 shares during the period. Capital Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WBD. Harbor Island Capital LLC increased its stake in Warner Bros. Discovery by 0.7% in the 3rd quarter. Harbor Island Capital LLC now owns 1,075,860 shares of the company’s stock valued at $8,876,000 after buying an additional 7,522 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Warner Bros. Discovery by 5.6% in the 3rd quarter. V Square Quantitative Management LLC now owns 31,243 shares of the company’s stock valued at $258,000 after acquiring an additional 1,643 shares in the last quarter. LexAurum Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at about $156,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Warner Bros. Discovery by 1.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 248,508 shares of the company’s stock worth $2,050,000 after acquiring an additional 4,316 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Warner Bros. Discovery by 48.2% during the third quarter. Bleakley Financial Group LLC now owns 20,795 shares of the company’s stock valued at $172,000 after purchasing an additional 6,766 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WBD. Morgan Stanley lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. TD Cowen decreased their price objective on shares of 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. Finally, Wells Fargo & Company dropped their target price on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $7.55 on Tuesday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. 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 firm’s 50-day simple moving average is $7.79 and its 200 day simple moving average is $7.86. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of -6.09 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business 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 firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current year.

Warner Bros. Discovery Company 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.