Cetera Investment Advisers Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cetera Investment Advisers trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 407,829 shares of the company's stock after selling 28,046 shares during the quarter. Cetera Investment Advisers' holdings in Warner Bros. Discovery were worth $4,376,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Colonial Trust Advisors lifted 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 acquiring an additional 996 shares during the period. Flagship Harbor Advisors LLC boosted its holdings in Warner Bros. Discovery by 9.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock valued at $160,000 after acquiring an additional 1,318 shares during the period. Bessemer Group Inc. raised its position in shares of Warner Bros. Discovery by 11.4% during the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock worth $139,000 after acquiring an additional 1,338 shares in the last quarter. CX Institutional increased its position in Warner Bros. Discovery by 5.7% during the first quarter. CX Institutional now owns 27,324 shares of the company's stock worth $293,000 after buying an additional 1,465 shares during the period. Finally, Bartlett & CO. Wealth Management LLC boosted its position in Warner Bros. Discovery by 9.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock worth $202,000 after purchasing an additional 1,561 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays increased their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. UBS Group raised their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Morgan Stanley cut their price objective on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Benchmark restated a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Monday, July 14th. Finally, Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.66.

Warner Bros. Discovery Trading Down 0.6%

Shares of NASDAQ:WBD traded down $0.08 during mid-day trading on Tuesday, reaching $12.72. 48,415,432 shares of the company's stock were exchanged, compared to its average volume of 79,998,432. The firm has a market capitalization of $31.22 billion, a price-to-earnings ratio of -2.89 and a beta of 1.57. The business's fifty day moving average price is $11.41 and its 200-day moving average price is $10.29. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the previous year, the firm earned ($0.40) EPS. Warner Bros. Discovery's quarterly revenue was down 9.8% on a year-over-year basis. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.