Everhart Financial Group Inc. Purchases 6,460 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Everhart Financial Group Inc. increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 56.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,907 shares of the company’s stock after buying an additional 6,460 shares during the quarter. Everhart Financial Group Inc.’s holdings in Warner Bros. Discovery were worth $133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Premier Path Wealth Partners LLC increased its stake in Warner Bros. Discovery by 8.7% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 144,970 shares of the company’s stock valued at $1,079,000 after buying an additional 11,631 shares during the last quarter. JB Capital LLC bought a new position in shares of Warner Bros. Discovery in the 2nd quarter valued at about $99,000. SOL Capital Management CO increased its position in shares of Warner Bros. Discovery by 69.0% in the second quarter. SOL Capital Management CO now owns 421,358 shares of the company’s stock valued at $3,135,000 after acquiring an additional 172,000 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Warner Bros. Discovery during the second quarter worth about $67,000. Finally, Keystone Financial Services acquired a new position in Warner Bros. Discovery during the second quarter valued at approximately $108,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WBD shares. Moffett Nathanson cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays dropped their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price target on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating for the company in a report on Thursday, August 8th. Morgan Stanley dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Barrington Research reiterated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.25.

Warner Bros. Discovery Price Performance

WBD stock traded up $0.55 during trading on Friday, reaching $8.05. 30,773,506 shares of the company were exchanged, compared to its average volume of 29,104,916. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of -6.49 and a beta of 1.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50-day moving average of $7.62 and a two-hundred day moving average of $8.19. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.31.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the prior year, the firm earned ($0.51) EPS. The company’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -0.44 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.