Patten & Patten Inc. TN Has $207,000 Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Patten & Patten Inc. TN boosted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,661 shares of the company’s stock after buying an additional 4,206 shares during the period. Patten & Patten Inc. TN’s holdings in Warner Bros. Discovery were worth $207,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $33,000. FinTrust Capital Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the period. Rakuten Securities Inc. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $35,000. First Financial Corp IN increased its holdings in shares of 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 purchasing an additional 2,887 shares during the period. Finally, CVA Family Office LLC acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD traded down $0.06 during mid-day trading on Tuesday, hitting $8.49. The company’s stock had a trading volume of 1,874,523 shares, compared to its average volume of 27,914,436. Warner Bros. Discovery, Inc. has a one year low of $6.94 and a one year high of $14.76. 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 stock’s 50-day moving average is $7.72 and its two-hundred day moving average is $8.62.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates 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 business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.39 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the topic of a number of research reports. Sanford C. Bernstein dropped their target price on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, July 17th. KeyCorp raised Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a research note on Friday, May 10th. Evercore ISI lowered their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus target price of $12.29.

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.