Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Decreased by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,833 shares of the company’s stock after selling 20,573 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Warner Bros. Discovery were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $33,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $27,000. First Financial Corp IN raised its holdings in shares of Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after buying an additional 2,887 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery during the second quarter valued at approximately $26,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Warner Bros. Discovery during the first quarter valued at approximately $33,000. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of recent analyst reports. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. TD Cowen dropped their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Barrington Research reissued an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their target price on Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.73.

Warner Bros. Discovery Trading Up 0.5 %

Warner Bros. Discovery stock opened at $7.78 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of -6.27 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company’s fifty day moving average price is $7.83 and its two-hundred day moving average price is $7.94.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The business had revenue of $9.71 billion during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.51) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share 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.