D.A. Davidson & CO. Sells 28,203 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

D.A. Davidson & CO. cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 320,192 shares of the company’s stock after selling 28,203 shares during the quarter. D.A. Davidson & CO.’s holdings in Warner Bros. Discovery were worth $2,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Family Firm Inc. acquired a new position in Warner Bros. Discovery in the second quarter valued at about $26,000. OFI Invest Asset Management boosted its holdings in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. Bank & Trust Co acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at $39,000. LRI Investments LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at $39,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Warner Bros. Discovery in the third quarter worth $41,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WBD shares. The Goldman Sachs Group increased their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Barclays increased their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. TD Cowen dropped their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Moffett Nathanson decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.55.

Warner Bros. Discovery Trading Up 1.0 %

Shares of NASDAQ WBD opened at $10.48 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of -2.29 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company’s fifty day moving average is $8.54 and its 200-day moving average is $8.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 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.