Patriot Financial Group Insurance Agency LLC Sells 3,276 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Patriot Financial Group Insurance Agency LLC lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,175 shares of the company’s stock after selling 3,276 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Warner Bros. Discovery were worth $183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at approximately $27,000. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at $26,000. OFI Invest Asset Management lifted its position in shares of Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the period. Transcendent Capital Group LLC boosted its stake in Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock worth $35,000 after acquiring an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in Warner Bros. Discovery in the first quarter worth $39,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $7.77 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $19.04 billion, a PE ratio of -6.27 and a beta of 1.48. The stock’s 50 day moving average price is $7.81 and its 200-day moving average price is $7.82. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter last year, the company earned ($0.51) EPS. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WBD. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Macquarie cut their price target on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Moffett Nathanson decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $10.66.

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.