Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.3% in the fourth quarter, HoldingsChannel reports. The firm owned 277,658 shares of the company’s stock after selling 28,486 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Warner Bros. Discovery were worth $3,160,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its holdings in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Warner Bros. Discovery by 12.1% during the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after acquiring an additional 2,356,665 shares during the last quarter. Northern Trust Corp boosted its holdings in Warner Bros. Discovery by 2.6% in the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after purchasing an additional 524,965 shares during the last quarter. Boston Partners increased its holdings in Warner Bros. Discovery by 43.0% during the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Warner Bros. Discovery by 9.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,097,509 shares of the company’s stock valued at $142,239,000 after purchasing an additional 1,180,825 shares in the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.79 during trading on Tuesday, hitting $7.36. The company had a trading volume of 82,498,737 shares, compared to its average volume of 26,959,281. The company has a market cap of $17.96 billion, a P/E ratio of -5.78 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50-day moving average is $8.59 and its 200 day moving average is $9.95. Warner Bros. Discovery, Inc. has a 52 week low of $7.35 and a 52 week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 EPS. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on WBD shares. Citigroup reduced their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Wells Fargo & Company downgraded shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Thursday, January 11th. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. cut their target price on 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery 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.