Congress Park Capital LLC Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Congress Park Capital LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 30.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 49,813 shares of the company’s stock after selling 21,325 shares during the period. Congress Park Capital LLC’s holdings in Warner Bros. Discovery were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of WBD. Fortis Group Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $25,000. Pacifica Partners Inc. raised its holdings in shares of Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after acquiring an additional 1,345 shares during the period. Headinvest LLC purchased a new position in shares of Warner Bros. Discovery during the 3rd quarter worth $28,000. First Financial Corp IN raised its holdings in Warner Bros. Discovery by 577.4% in the 1st quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after buying an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at about $33,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.11 during mid-day trading on Friday, reaching $7.46. 9,631,068 shares of the company’s stock traded hands, compared to its average volume of 27,759,328. Warner Bros. Discovery, Inc. has a 1-year low of $6.94 and a 1-year high of $14.76. The company has a fifty day simple moving average of $7.88 and a 200-day simple moving average of $9.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82.

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

Analyst Ratings Changes

Several brokerages recently issued reports on WBD. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday, May 28th. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target for the company. in a report on Tuesday, April 23rd. Barclays reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, February 29th. Finally, KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective for the company in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $12.82.

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.