Nations Financial Group Inc. IA ADV Sells 1,296 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nations Financial Group Inc. IA ADV lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,970 shares of the company’s stock after selling 1,296 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Warner Bros. Discovery were worth $124,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WBD. Private Management Group Inc. lifted its stake in shares of Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after buying an additional 1,886,868 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Warner Bros. Discovery by 1,216.7% in the second quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after buying an additional 2,780,986 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after buying an additional 163,295 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Warner Bros. Discovery by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock valued at $5,028,000 after purchasing an additional 105,321 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $9.22 on Friday. The firm has a fifty day moving average price of $8.10 and a 200-day moving average price of $7.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) earnings per share. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WBD shares. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective 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. Macquarie boosted their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.55.

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.