Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,183 shares of the company’s stock after selling 21,078 shares during the quarter. Kovack Advisors Inc.’s holdings in Warner Bros. Discovery were worth $249,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC grew its holdings in Warner Bros. Discovery by 124.5% during the 1st quarter. Empowered Funds LLC now owns 52,891 shares of the company’s stock valued at $462,000 after buying an additional 29,330 shares during the last quarter. Sei Investments Co. lifted its position in shares of Warner Bros. Discovery by 29.3% in the first quarter. Sei Investments Co. now owns 521,613 shares of the company’s stock valued at $4,554,000 after acquiring an additional 118,278 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Warner Bros. Discovery by 10.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 324,499 shares of the company’s stock valued at $2,833,000 after acquiring an additional 29,642 shares during the last quarter. Blair William & Co. IL increased its position in Warner Bros. Discovery by 31.0% during the 1st quarter. Blair William & Co. IL now owns 83,664 shares of the company’s stock worth $730,000 after purchasing an additional 19,776 shares in the last quarter. Finally, M&G Plc acquired a new position in Warner Bros. Discovery in the 1st quarter valued at about $5,259,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein cut shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Moffett Nathanson decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Finally, The Goldman Sachs Group upped their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Monday, October 7th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $10.55.

Warner Bros. Discovery Price Performance

WBD opened at $9.22 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a 50 day moving average of $8.10 and a two-hundred day moving average of $7.88. The company has a market cap of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) EPS. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current 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.