Nichols & Pratt Advisers LLP MA Cuts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nichols & Pratt Advisers LLP MA lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,056 shares of the company’s stock after selling 4,925 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in Warner Bros. Discovery were worth $558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its position in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Warner Bros. Discovery by 12.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock valued at $237,007,000 after acquiring an additional 2,356,665 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Warner Bros. Discovery by 2.6% in the 3rd quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after acquiring an additional 524,965 shares during the last quarter. Boston Partners boosted its holdings in shares of Warner Bros. Discovery by 43.0% in the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock valued at $153,713,000 after acquiring an additional 4,275,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Warner Bros. Discovery by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock valued at $155,594,000 after acquiring an additional 575,123 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WBD shares. Citigroup lowered their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Sanford C. Bernstein reduced their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Thursday. Finally, Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $13.32.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.09 on Friday, hitting $8.13. 22,803,582 shares of the company were exchanged, compared to its average volume of 27,623,555. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of -6.47 and a beta of 1.51. The company has a 50-day moving average price of $8.39 and a 200 day moving average price of $9.80. Warner Bros. Discovery, Inc. has a 1-year low of $7.34 and a 1-year high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share 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.