Mercer Global Advisors Inc. ADV Has $905,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mercer Global Advisors Inc. ADV cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 35.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 85,574 shares of the company’s stock after selling 47,001 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Warner Bros. Discovery were worth $905,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after buying an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its stake in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $28,000. Finally, Ethos Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $29,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research analyst reports. Barclays raised their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. KeyCorp reduced their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Wells Fargo & Company increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.22.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $9.04 on Friday. The business has a 50-day simple moving average of $9.35 and a 200 day simple moving average of $9.84. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock has a market cap of $22.19 billion, a price-to-earnings ratio of -1.97, a PEG ratio of 8.64 and a beta of 1.46. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter last year, the company posted ($0.40) earnings per share. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery 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.