DRW Securities LLC Sells 38,396 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DRW Securities LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,646 shares of the company’s stock after selling 38,396 shares during the quarter. DRW Securities LLC’s holdings in Warner Bros. Discovery were worth $913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in WBD. OFI Invest Asset Management boosted its holdings in Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. Commerce Bank boosted its holdings in Warner Bros. Discovery by 2.4% in the third quarter. Commerce Bank now owns 55,963 shares of the company’s stock worth $462,000 after acquiring an additional 1,286 shares in the last quarter. GAM Holding AG boosted its holdings in Warner Bros. Discovery by 0.3% in the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after acquiring an additional 1,437 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after acquiring an additional 1,461 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in Warner Bros. Discovery by 1.4% in the third quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after acquiring an additional 1,517 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 2.9 %

Warner Bros. Discovery stock opened at $10.40 on Tuesday. The stock has a market capitalization of $25.51 billion, a PE ratio of -2.27 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The business has a 50 day simple moving average of $8.34 and a 200-day simple moving average of $7.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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

Wall Street Analysts Forecast Growth

WBD has been the subject of several recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Macquarie raised their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Evercore ISI lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company decreased their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Moffett Nathanson decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.55.

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.