Cutter & CO Brokerage Inc. Sells 7,870 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cutter & CO Brokerage Inc. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 30,730 shares of the company’s stock after selling 7,870 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Warner Bros. Discovery were worth $350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $145,000. Lorne Steinberg Wealth Management Inc. increased its position in Warner Bros. Discovery by 2.5% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 222,527 shares of the company’s stock valued at $2,532,000 after purchasing an additional 5,493 shares during the period. Illinois Municipal Retirement Fund increased its position in Warner Bros. Discovery by 34.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 204,356 shares of the company’s stock valued at $2,326,000 after purchasing an additional 52,632 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Warner Bros. Discovery by 0.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 200,720 shares of the company’s stock valued at $2,284,000 after purchasing an additional 1,769 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $194,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.11 during trading on Wednesday, hitting $8.33. The company’s stock had a trading volume of 11,550,901 shares, compared to its average volume of 26,379,365. The company has a 50-day moving average of $8.72 and a 200-day moving average of $10.02. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of -6.52 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $14.76. 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 released its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations 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 company’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the topic of a number of research analyst reports. Rosenblatt Securities raised 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 research report on Thursday, March 21st. Macquarie reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Citigroup reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.83.

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.