D.A. Davidson & CO. Has $2.64 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

D.A. Davidson & CO. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 320,192 shares of the company’s stock after selling 28,203 shares during the quarter. D.A. Davidson & CO.’s holdings in Warner Bros. Discovery were worth $2,642,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC grew its position in Warner Bros. Discovery by 47.7% in the first quarter. Lazard Asset Management LLC now owns 10,558 shares of the company’s stock valued at $91,000 after purchasing an additional 3,412 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Warner Bros. Discovery by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,990,840 shares of the company’s stock valued at $26,111,000 after acquiring an additional 23,543 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Warner Bros. Discovery by 31.0% during the first quarter. Janus Henderson Group PLC now owns 314,948 shares of the company’s stock worth $2,751,000 after acquiring an additional 74,587 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Warner Bros. Discovery by 12.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 98,406 shares of the company’s stock valued at $859,000 after purchasing an additional 10,660 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in Warner Bros. Discovery by 8.2% in the first quarter. Tidal Investments LLC now owns 86,806 shares of the company’s stock valued at $757,000 after purchasing an additional 6,591 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.48 on Friday. The firm has a market cap of $25.71 billion, a PE ratio of -2.29 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s fifty day moving average price is $8.54 and its two-hundred day moving average price is $8.03. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. 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 $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the business earned ($0.17) earnings per share. Warner Bros. Discovery’s revenue was down 3.6% on a year-over-year basis. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $10.00 to $8.00 in a report on Tuesday, August 13th. Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays lifted their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.55.

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.