Alexander Randolph Advisory Inc. Takes Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Alexander Randolph Advisory Inc. bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 346,243 shares of the company's stock, valued at approximately $3,940,000. Warner Bros. Discovery comprises 3.6% of Alexander Randolph Advisory Inc.'s holdings, making the stock its 8th biggest holding.

A number of other hedge funds have also recently modified their holdings of WBD. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery during the third quarter worth approximately $25,000. Peoples Bank KS purchased a new position in Warner Bros. Discovery during the third quarter worth approximately $27,000. Pacifica Partners Inc. boosted its position in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company's stock worth $27,000 after purchasing an additional 1,345 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in Warner Bros. Discovery during the third quarter worth approximately $28,000. Finally, Headinvest LLC purchased a new position in Warner Bros. Discovery during the third quarter worth approximately $28,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley lowered their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, February 26th. Wolfe Research cut Warner Bros. Discovery from a "peer perform" rating to an "underperform" rating and set a $7.00 target price for the company. in a report on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a "neutral" rating for the company in a report on Monday, February 26th. Rosenblatt Securities raised Warner Bros. Discovery from a "sell" rating to a "neutral" rating and increased their target price for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Finally, Macquarie reduced their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.83.

Warner Bros. Discovery Trading Down 2.2 %

Shares of WBD traded down $0.18 during midday trading on Friday, hitting $8.11. 19,754,363 shares of the stock were exchanged, compared to its average volume of 25,568,130. The stock has a fifty day simple moving average of $8.62 and a 200 day simple moving average of $9.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The firm has a market cap of $19.79 billion, a P/E ratio of -6.34 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.33 EPS for the current fiscal year.

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.