Investors Research Corp Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Investors Research Corp decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,420 shares of the company’s stock after selling 3,416 shares during the quarter. Investors Research Corp’s holdings in Warner Bros. Discovery were worth $73,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at $32,838,000. Retirement Systems of Alabama acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $8,438,000. First Trust Advisors LP purchased a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth about $4,168,000. Price T Rowe Associates Inc. MD purchased a new position in Warner Bros. Discovery in the third quarter valued at approximately $49,058,000. Finally, Two Sigma Advisers LP acquired a new position in Warner Bros. Discovery during the third quarter valued at approximately $601,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.14 on Wednesday. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76. The company’s fifty day moving average is $8.86 and its two-hundred day moving average is $10.08. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on WBD shares. JPMorgan Chase & Co. cut their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Benchmark reissued a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Barclays lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Finally, Barrington Research lowered their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.24.

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.