B. Riley Wealth Advisors Inc. Sells 10,660 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

B. Riley Wealth Advisors Inc. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,746 shares of the company’s stock after selling 10,660 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Warner Bros. Discovery were worth $999,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. SageView Advisory Group LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth about $129,000. Fisher Asset Management LLC raised its stake in Warner Bros. Discovery by 11.2% in the fourth quarter. Fisher Asset Management LLC now owns 1,837,483 shares of the company’s stock worth $20,911,000 after buying an additional 185,395 shares in the last quarter. Fortis Group Advisors LLC raised its stake in Warner Bros. Discovery by 83.3% in the fourth quarter. Fortis Group Advisors LLC now owns 4,301 shares of the company’s stock worth $49,000 after buying an additional 1,954 shares in the last quarter. Royal London Asset Management Ltd. raised its stake in Warner Bros. Discovery by 5.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 884,252 shares of the company’s stock worth $10,063,000 after buying an additional 46,335 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth about $67,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Up 0.7 %

Shares of WBD stock opened at $7.04 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.94 and a 12-month high of $14.76. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average is $7.98 and its 200 day moving average is $9.27. The stock has a market capitalization of $17.25 billion, a P/E ratio of -5.68 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the subject of a number of analyst reports. Sanford C. Bernstein decreased their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Barclays decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, February 29th. KeyCorp raised shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. decreased their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $13.16.

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.