Nations Financial Group Inc. IA ADV Sells 1,296 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nations Financial Group Inc. IA ADV trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,970 shares of the company’s stock after selling 1,296 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Warner Bros. Discovery were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Versor Investments LP bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $93,000. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Warner Bros. Discovery by 109.9% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 32,830 shares of the company’s stock worth $271,000 after acquiring an additional 17,187 shares during the last quarter. Atria Investments Inc lifted its holdings in shares of Warner Bros. Discovery by 31.9% during the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock worth $809,000 after acquiring an additional 23,697 shares during the last quarter. Corrado Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 14.1% during the 3rd quarter. Corrado Advisors LLC now owns 139,810 shares of the company’s stock worth $1,153,000 after acquiring an additional 17,302 shares during the last quarter. Finally, Pegasus Partners Ltd. lifted its holdings in shares of Warner Bros. Discovery by 80.5% during the 3rd quarter. Pegasus Partners Ltd. now owns 47,095 shares of the company’s stock worth $389,000 after acquiring an additional 21,000 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $9.22 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $8.10 and its 200 day moving average is $7.88. The stock has a market capitalization of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Warner Bros. Discovery’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WBD. Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.55.

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.