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

Corrado Advisors LLC decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,281 shares of the company’s stock after selling 3,231 shares during the period. Corrado Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,539,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Warner Bros. Discovery by 16.6% during the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Warner Bros. Discovery by 12.1% in the third quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock worth $237,007,000 after acquiring an additional 2,356,665 shares during the last quarter. Northern Trust Corp lifted its holdings in Warner Bros. Discovery by 2.6% in the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock worth $226,692,000 after acquiring an additional 524,965 shares during the last quarter. Boston Partners lifted its holdings in Warner Bros. Discovery by 43.0% in the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after acquiring an additional 4,275,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Warner Bros. Discovery by 9.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,097,509 shares of the company’s stock worth $142,239,000 after acquiring an additional 1,180,825 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.4 %

Shares of Warner Bros. Discovery stock traded down $0.03 on Tuesday, hitting $8.44. 25,124,931 shares of the company traded hands, compared to its average volume of 26,574,645. The company has a 50-day moving average price of $8.74 and a 200 day moving average price of $10.03. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The company has a market cap of $20.59 billion, a PE ratio of -6.59 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on WBD. Wolfe Research cut shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price on the stock. in a report on Tuesday. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Thursday, January 11th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Finally, Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $16.00 to $12.00 in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.83.

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 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.