Raymond James & Associates Sells 44,740 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Raymond James & Associates reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,422,182 shares of the company’s stock after selling 44,740 shares during the period. Raymond James & Associates owned about 0.06% of Warner Bros. Discovery worth $11,733,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WBD. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $27,000. OFI Invest Asset Management lifted its position in 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 last quarter. Transcendent Capital Group LLC boosted its stake in shares of Warner Bros. Discovery by 665.4% during the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after purchasing an additional 3,480 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Warner Bros. Discovery in the first quarter worth approximately $39,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WBD shares. Macquarie dropped their price target on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Evercore ISI dropped their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Stock Up 0.1 %

NASDAQ:WBD opened at $7.61 on Tuesday. 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 firm’s 50-day moving average price is $7.82 and its 200-day moving average price is $7.83. The company has a market capitalization of $18.65 billion, a PE ratio of -6.14 and a beta of 1.48. 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 analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.71 billion during the quarter, compared to analysts’ expectations of $10.07 billion. During the same quarter last year, the company posted ($0.51) EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.47 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.