Cetera Advisor Networks LLC cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 317,333 shares of the company’s stock after selling 5,900 shares during the period. Cetera Advisor Networks LLC’s holdings in Warner Bros. Discovery were worth $3,979,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 124,559.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after buying an additional 28,053,216 shares during the last quarter. Norges Bank acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $196,222,000. Orbis Allan Gray Ltd acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth $147,400,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $49,058,000. Finally, Empower Advisory Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth $57,884,000. 58.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on WBD shares. The Goldman Sachs Group dropped their price objective on Warner Bros. Discovery from $17.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, November 9th. Raymond James decreased their price target on shares of Warner Bros. Discovery from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. UBS Group decreased their price target on shares of Warner Bros. Discovery from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, October 10th. Truist Financial reaffirmed a “buy” rating and set a $17.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, September 6th. Finally, Sanford C. Bernstein began coverage on shares of Warner Bros. Discovery in a research report on Thursday, October 5th. They set an “outperform” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.73.
Warner Bros. Discovery Stock Performance
Shares of Warner Bros. Discovery stock opened at $10.74 on Tuesday. The firm has a market cap of $26.18 billion, a PE ratio of -5.43 and a beta of 1.61. The firm’s 50-day simple moving average is $10.66 and its 200-day simple moving average is $11.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.88 and a current ratio of 0.88. Warner Bros. Discovery, Inc. has a 1 year low of $8.82 and a 1 year high of $16.34.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last issued its earnings results on Wednesday, November 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.16). The company had revenue of $9.98 billion during the quarter, compared to analyst estimates of $9.97 billion. Warner Bros. Discovery had a negative net margin of 11.48% and a negative return on equity of 0.47%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -1.18 earnings per share 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 third parties and networks 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.
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