Private Advisor Group LLC Raises Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Private Advisor Group LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,113 shares of the company’s stock after acquiring an additional 5,851 shares during the period. Private Advisor Group LLC’s holdings in Warner Bros. Discovery were worth $548,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Colonial Trust Advisors lifted its stake in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $27,000. North Capital Inc. bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $30,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on WBD. Barclays upped their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Bank of America upped their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Citigroup dropped their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, June 9th. Finally, Guggenheim restated a “buy” rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.41.

Warner Bros. Discovery Trading Down 4.2%

Shares of NASDAQ:WBD opened at $13.12 on Wednesday. The stock’s 50-day simple moving average is $11.02 and its two-hundred day simple moving average is $10.17. The stock has a market capitalization of $32.21 billion, a price-to-earnings ratio of -2.98 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $13.86. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. During the same quarter in the previous year, the company earned ($0.40) EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.