Bard Financial Services Inc. Sells 9,005 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bard Financial Services Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,600 shares of the company’s stock after selling 9,005 shares during the quarter. Bard Financial Services Inc.’s holdings in Warner Bros. Discovery were worth $110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in Warner Bros. Discovery by 17.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock worth $290,579,000 after purchasing an additional 3,710,343 shares during the period. Norges Bank bought a new position in Warner Bros. Discovery during the fourth quarter worth $198,916,000. Boston Partners boosted its position in Warner Bros. Discovery by 9.9% during the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after purchasing an additional 1,414,952 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Warner Bros. Discovery by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,672,632 shares of the company’s stock worth $155,594,000 after purchasing an additional 575,123 shares during the period. Finally, Artisan Partners Limited Partnership boosted its position in Warner Bros. Discovery by 1.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 8,504,716 shares of the company’s stock worth $96,784,000 after purchasing an additional 123,693 shares during the period. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Sanford C. Bernstein dropped their price target on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price target for the company from $7.00 to $10.00 in a research note on Thursday, March 21st. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research note on Tuesday, April 23rd. Finally, KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Stock Up 0.5 %

Shares of NASDAQ:WBD traded up $0.04 during trading on Friday, reaching $7.42. 3,837,115 shares of the stock were exchanged, compared to its average volume of 27,547,973. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery, Inc. has a 1-year low of $6.94 and a 1-year high of $14.76. The stock has a fifty day moving average of $7.70 and a two-hundred day moving average of $8.82. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of -6.01 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The company 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 company’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

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.