Steward Partners Investment Advisory LLC Sells 13,405 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) (2024)

Steward Partners Investment Advisory LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 16.6% in the fourth quarter, HoldingsChannel reports. The fund owned 67,294 shares of the company’s stock after selling 13,405 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Warner Bros. Discovery were worth $766,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after acquiring an additional 36,405 shares during the last quarter. Anchor Investment Management LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $105,000. Ameriprise Financial Inc. raised its stake in shares of Warner Bros. Discovery by 2.4% in the third quarter. Ameriprise Financial Inc. now owns 7,879,216 shares of the company’s stock worth $85,588,000 after acquiring an additional 186,639 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Warner Bros. Discovery by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,839,596 shares of the company’s stock worth $20,935,000 after acquiring an additional 187,508 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in shares of Warner Bros. Discovery by 0.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 947,261 shares of the company’s stock worth $11,073,000 after buying an additional 3,530 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Down 1.1 %

Warner Bros. Discovery stock opened at $8.24 on Wednesday. The stock has a market capitalization of $20.19 billion, a PE ratio of -6.65 and a beta of 1.53. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $8.21 and a 200-day moving average of $9.53.

Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The business had revenue of $9.96 billion during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a research report on Tuesday, April 23rd. Sanford C. Bernstein lowered their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. lowered their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research report on Friday, May 10th. Finally, Citigroup lowered their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $13.16.

Get Our Latest Report on WBD

Warner Bros. Discovery Profile

(Free Report)

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.

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