Arete Wealth Advisors LLC Has $85,000 Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Arete Wealth Advisors LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,330 shares of the company’s stock after selling 1,689 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Warner Bros. Discovery were worth $85,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its position in Warner Bros. Discovery by 18.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 26,307 shares of the company’s stock valued at $219,000 after purchasing an additional 4,176 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Warner Bros. Discovery by 27.2% during the third quarter. Prestige Wealth Management Group LLC now owns 46,206 shares of the company’s stock worth $381,000 after buying an additional 9,874 shares during the last quarter. M&T Bank Corp lifted its holdings in Warner Bros. Discovery by 5.5% in the third quarter. M&T Bank Corp now owns 142,588 shares of the company’s stock valued at $1,177,000 after buying an additional 7,373 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Warner Bros. Discovery by 8.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 835,884 shares of the company’s stock valued at $6,896,000 after acquiring an additional 61,870 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Warner Bros. Discovery during the 3rd quarter worth $3,827,000. 59.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays raised their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Macquarie boosted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday. Guggenheim boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday. Finally, Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

Warner Bros. Discovery stock opened at $12.07 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a fifty day simple moving average of $9.11 and a 200 day simple moving average of $8.24. The company has a market cap of $29.61 billion, a P/E ratio of -2.64 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the company earned ($0.17) EPS. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.