Kingswood Wealth Advisors LLC Buys New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Kingswood Wealth Advisors LLC bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,107 shares of the company’s stock, valued at approximately $123,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. LPL Financial LLC boosted its holdings in Warner Bros. Discovery by 10.7% in the third quarter. LPL Financial LLC now owns 1,082,146 shares of the company’s stock worth $11,752,000 after acquiring an additional 104,566 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Warner Bros. Discovery by 17.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 40,063 shares of the company’s stock worth $435,000 after acquiring an additional 5,925 shares in the last quarter. Synovus Financial Corp boosted its holdings in Warner Bros. Discovery by 12.2% in the third quarter. Synovus Financial Corp now owns 66,500 shares of the company’s stock worth $722,000 after acquiring an additional 7,222 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Warner Bros. Discovery by 69.7% in the third quarter. Tower Research Capital LLC TRC now owns 158,810 shares of the company’s stock worth $1,725,000 after acquiring an additional 65,201 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in Warner Bros. Discovery by 271.5% in the third quarter. Bank of Nova Scotia now owns 656,567 shares of the company’s stock worth $7,130,000 after acquiring an additional 479,836 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $7.44 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $9.10. Warner Bros. Discovery, Inc. has a 1 year low of $6.94 and a 1 year high of $14.76. The company has a market capitalization of $18.23 billion, a P/E ratio of -6.00 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the prior year, the business earned $0.18 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WBD. The Goldman Sachs Group started coverage on Warner Bros. Discovery in a report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Barrington Research reissued an “outperform” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a research note on Tuesday, May 28th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Finally, Benchmark reissued a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.82.

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.