Miracle Mile Advisors LLC Boosts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Miracle Mile Advisors LLC raised its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,912 shares of the company’s stock after buying an additional 7,079 shares during the period. Miracle Mile Advisors LLC’s holdings in Warner Bros. Discovery were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WBD. Blue Zone Wealth Advisors LLC boosted its holdings in Warner Bros. Discovery by 1.7% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 153,701 shares of the company’s stock valued at $1,342,000 after acquiring an additional 2,578 shares during the period. Sendero Wealth Management LLC lifted its position in shares of Warner Bros. Discovery by 62.0% during the first quarter. Sendero Wealth Management LLC now owns 347,782 shares of the company’s stock worth $3,036,000 after purchasing an additional 133,125 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 86.2% during the first quarter. 180 Wealth Advisors LLC now owns 57,521 shares of the company’s stock valued at $502,000 after purchasing an additional 26,636 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Warner Bros. Discovery in the first quarter worth about $33,000. Finally, Brookstone Capital Management increased its stake in Warner Bros. Discovery by 6.2% in the 1st quarter. Brookstone Capital Management now owns 28,466 shares of the company’s stock worth $249,000 after buying an additional 1,657 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $7.10 on Tuesday. The company has a 50 day moving average of $7.83 and a two-hundred day moving average of $9.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. Warner Bros. Discovery, Inc. has a twelve month low of $6.94 and a twelve month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share 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 business had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the business earned $0.18 EPS. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. Equities analysts predict that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WBD shares. Sanford C. Bernstein lowered their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target for the company in a report on Friday, May 10th. Barrington Research restated an “outperform” rating and set a $15.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, May 28th. Benchmark reaffirmed a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, June 17th. Finally, The Goldman Sachs Group assumed coverage on Warner Bros. Discovery in a research report on Tuesday, June 25th. They set a “neutral” rating and a $8.50 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.82.

Warner Bros. Discovery 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.