Sheaff Brock Investment Advisors LLC Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sheaff Brock Investment Advisors LLC cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,124 shares of the company’s stock after selling 1,788 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $141,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WBD. The Manufacturers Life Insurance Company grew 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 valued at $290,579,000 after acquiring an additional 3,710,343 shares during the last quarter. Norges Bank purchased a new position in Warner Bros. Discovery during the fourth quarter valued at $198,916,000. Boston Partners lifted 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 valued at $177,384,000 after buying an additional 1,414,952 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $155,594,000 after acquiring an additional 575,123 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of 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 valued at $96,784,000 after acquiring an additional 123,693 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barrington Research reiterated an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday. Sanford C. Bernstein cut their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a research report on Tuesday, April 23rd. Evercore ISI cut their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $11.87.

Warner Bros. Discovery Trading Up 4.0 %

Warner Bros. Discovery stock traded up $0.32 during midday trading on Friday, reaching $8.31. The stock had a trading volume of 22,906,845 shares, compared to its average volume of 27,455,124. Warner Bros. Discovery, Inc. has a twelve month low of $6.94 and a twelve month high of $14.76. The stock has a market capitalization of $20.36 billion, a PE ratio of -6.70 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $7.73 and its 200 day simple moving average is $8.58.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. Analysts expect that Warner Bros. Discovery, Inc. will post -0.41 EPS for the current 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.