Janney Montgomery Scott LLC Decreases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Janney Montgomery Scott LLC cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,025 shares of the company’s stock after selling 42,447 shares during the period. Janney Montgomery Scott LLC’s holdings in Warner Bros. Discovery were worth $2,914,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC raised its stake in Warner Bros. Discovery by 2.6% during the 3rd quarter. Private Advisor Group LLC now owns 117,340 shares of the company’s stock worth $1,274,000 after acquiring an additional 2,987 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Warner Bros. Discovery by 39.2% in the 3rd quarter. Larson Financial Group LLC now owns 5,246 shares of the company’s stock valued at $57,000 after purchasing an additional 1,478 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Warner Bros. Discovery by 3.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 672,721 shares of the company’s stock valued at $7,306,000 after purchasing an additional 24,802 shares during the period. Corient Private Wealth LLC grew its stake in Warner Bros. Discovery by 47.3% during the 3rd quarter. Corient Private Wealth LLC now owns 819,460 shares of the company’s stock worth $8,896,000 after buying an additional 263,037 shares during the last quarter. Finally, Signaturefd LLC increased its position in Warner Bros. Discovery by 5.1% during the third quarter. Signaturefd LLC now owns 30,404 shares of the company’s stock worth $330,000 after buying an additional 1,477 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

WBD stock opened at $7.73 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $7.34 and a 52 week high of $14.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50-day moving average price is $8.28 and its 200 day moving average price is $9.63.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data 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 firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of a number of recent research reports. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their target price for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Finally, Barclays decreased 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 report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.32.

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.