Cutter & CO Brokerage Inc. Sells 3,719 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cutter & CO Brokerage Inc. reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.8% in the 3rd quarter, Holdings Channel reports. The fund owned 25,446 shares of the company’s stock after selling 3,719 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Warner Bros. Discovery were worth $210,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Family Firm Inc. bought a new stake in Warner Bros. Discovery in the 2nd quarter valued at $26,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery in the first quarter valued at about $27,000. OFI Invest Asset Management boosted its position in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after buying an additional 1,221 shares during the period. Transcendent Capital Group LLC raised its position in Warner Bros. Discovery by 665.4% in the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after buying an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Warner Bros. Discovery during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.8 %

WBD stock opened at $7.55 on Wednesday. The firm has a 50-day moving average price of $7.82 and a 200-day moving average price of $7.83. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $18.50 billion, a P/E ratio of -6.09 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The company had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. During the same period in the previous year, the company earned ($0.51) EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WBD. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Moffett Nathanson decreased their price objective 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. Wells Fargo & Company dropped their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Morgan Stanley lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. Finally, Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus target price of $10.66.

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.