Ancora Advisors LLC Decreases Stake in Warner Bros. Discovery, Inc. $WBD

Key Points

• Ancora Advisors LLC reduced its stake in Warner Bros. Discovery by 61.0% during the 1st quarter, now holding 75,826 shares valued at $814,000.
• Warner Bros. Discovery's recent quarterly earnings report showed $0.63 earnings per share, significantly surpassing the consensus estimate of a loss.
• Several analysts have adjusted their price targets for Warner Bros. Discovery, with Raymond James reducing it from $14.00 to $13.00 while maintaining an "outperform" rating.

Ancora Advisors LLC lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 61.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 75,826 shares of the company's stock after selling 118,800 shares during the quarter. Ancora Advisors LLC's holdings in Warner Bros. Discovery were worth $814,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WBD. WPG Advisers LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Warner Bros. Discovery during the 1st quarter valued at about $29,000. Finally, Ameriflex Group Inc. purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $12.11 on Friday. The business has a 50 day moving average of $12.07 and a 200 day moving average of $10.54. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 1.57 and a beta of 1.59. Warner Bros. Discovery, Inc. has a 1-year low of $6.78 and a 1-year high of $13.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The firm had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) earnings per share. The business's revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WBD. Raymond James Financial cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, August 8th. UBS Group boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. KeyCorp cut their price objective on Warner Bros. Discovery from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Huber Research raised Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Barclays boosted their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.14.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy bought 250,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $10.90 per share, for a total transaction of $2,725,000.00. Following the completion of the acquisition, the director directly owned 874,000 shares in the company, valued at $9,526,600. The trade was a 40.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

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.

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