Brown Advisory Inc. Cuts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brown Advisory Inc. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,975 shares of the company’s stock after selling 8,618 shares during the period. Brown Advisory Inc.’s holdings in Warner Bros. Discovery were worth $523,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth approximately $25,000. Pacifica Partners Inc. boosted its holdings in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Headinvest LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Finally, Systematic Alpha Investments LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $31,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Sanford C. Bernstein decreased their price objective on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Barclays decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. Finally, Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $13.32.

Warner Bros. Discovery Stock Up 0.3 %

Warner Bros. Discovery stock opened at $7.72 on Monday. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The stock’s fifty day simple moving average is $8.28 and its 200-day simple moving average is $9.62. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $18.92 billion, a P/E ratio of -6.23 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal 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.