Janney Montgomery Scott LLC Sells 5,075 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Janney Montgomery Scott LLC lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,825 shares of the company’s stock after selling 5,075 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Warner Bros. Discovery were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WBD. OFI Invest Asset Management raised its position in shares of Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the last quarter. GAM Holding AG raised its stake in Warner Bros. Discovery by 0.3% during the 3rd quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after buying an additional 1,437 shares during the period. Waldron Private Wealth LLC grew its position in Warner Bros. Discovery by 5.4% in the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock valued at $234,000 after purchasing an additional 1,461 shares during the period. PFG Investments LLC raised its holdings in shares of Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock worth $927,000 after acquiring an additional 1,517 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Warner Bros. Discovery by 13.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 13,476 shares of the company’s stock valued at $111,000 after purchasing an additional 1,565 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Down 6.5 %

NASDAQ WBD opened at $9.22 on Friday. The stock’s fifty day moving average price is $8.10 and its 200-day moving average price is $7.88. The stock has a market cap of $22.61 billion, a P/E ratio of -2.01 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the company earned ($0.17) earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. The Goldman Sachs Group increased their price target on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Macquarie upped their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Barclays upped their target price on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price objective on shares of Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.55.

About Warner Bros. Discovery

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.