Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Boosted by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,701 shares of the company’s stock after buying an additional 2,578 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. LPL Financial LLC boosted its position in shares of Warner Bros. Discovery by 10.7% during the 3rd quarter. LPL Financial LLC now owns 1,082,146 shares of the company’s stock valued at $11,752,000 after purchasing an additional 104,566 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Warner Bros. Discovery by 17.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 40,063 shares of the company’s stock valued at $435,000 after purchasing an additional 5,925 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Warner Bros. Discovery by 12.2% during the 3rd quarter. Synovus Financial Corp now owns 66,500 shares of the company’s stock valued at $722,000 after purchasing an additional 7,222 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Warner Bros. Discovery by 69.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 158,810 shares of the company’s stock valued at $1,725,000 after purchasing an additional 65,201 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Warner Bros. Discovery by 271.5% during the 3rd quarter. Bank of Nova Scotia now owns 656,567 shares of the company’s stock valued at $7,130,000 after purchasing an additional 479,836 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Sanford C. Bernstein reduced their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. The Goldman Sachs Group assumed coverage on shares of Warner Bros. Discovery in a research note on Tuesday, June 25th. They set a “neutral” rating and a $8.50 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 17th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a research note on Tuesday, April 23rd. Finally, Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and a consensus price target of $12.82.

Warner Bros. Discovery Trading Up 1.2 %

WBD stock traded up $0.09 during midday trading on Friday, reaching $7.44. The stock had a trading volume of 36,956,362 shares, compared to its average volume of 25,998,172. The business has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $9.08. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of -6.00 and a beta of 1.53. Warner Bros. Discovery, Inc. has a twelve month low of $6.94 and a twelve month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. Warner Bros. Discovery’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS 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.