Beck Mack & Oliver LLC Trims Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Beck Mack & Oliver LLC lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,428,735 shares of the company’s stock after selling 247,249 shares during the period. Beck Mack & Oliver LLC owned about 0.10% of Warner Bros. Discovery worth $25,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Colonial Trust Advisors grew its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth $26,000. SRS Capital Advisors Inc. grew its position in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $28,000. Finally, Ethos Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.4 %

WBD stock opened at $8.11 on Friday. The firm has a fifty day moving average price of $10.04 and a two-hundred day moving average price of $9.74. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market cap of $19.91 billion, a price-to-earnings ratio of -1.77, a PEG ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on WBD. KeyCorp cut their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company lowered their price target on Warner Bros. Discovery from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average target price of $11.76.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.80% of the stock is owned by company insiders.

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.