J.W. Cole Advisors Inc. Reduces Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

J.W. Cole Advisors Inc. lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,097 shares of the company’s stock after selling 6,452 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Warner Bros. Discovery were worth $112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Family Firm Inc. acquired a new stake in Warner Bros. Discovery during the 2nd quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the first quarter worth $27,000. OFI Invest Asset Management grew its position in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares during the period. First Financial Corp IN increased its stake in Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after purchasing an additional 2,887 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in Warner Bros. Discovery during the fourth quarter worth about $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Sanford C. Bernstein downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Moffett Nathanson lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. Finally, Barclays cut their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.93.

Warner Bros. Discovery Price Performance

WBD opened at $8.40 on Friday. The company has a market capitalization of $20.58 billion, a P/E ratio of -6.77 and a beta of 1.48. The company has a 50-day moving average of $7.84 and a 200-day moving average of $7.98. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.76 and a current ratio of 0.76. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The firm had revenue of $9.71 billion during the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) earnings per share. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current fiscal year.

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.