ProVise Management Group LLC Has $132,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ProVise Management Group LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 31.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,792 shares of the company’s stock after selling 8,055 shares during the period. ProVise Management Group LLC’s holdings in Warner Bros. Discovery were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of WBD. FinTrust Capital Advisors LLC increased its position in Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the last quarter. Personal CFO Solutions LLC increased its position in Warner Bros. Discovery by 4.6% in the 4th quarter. Personal CFO Solutions LLC now owns 25,126 shares of the company’s stock worth $286,000 after purchasing an additional 1,108 shares during the last quarter. Holistic Financial Partners increased its position in Warner Bros. Discovery by 5.8% in the 4th quarter. Holistic Financial Partners now owns 21,235 shares of the company’s stock worth $242,000 after purchasing an additional 1,167 shares during the last quarter. OFI Invest Asset Management increased its position in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the last quarter. Finally, NEOS Investment Management LLC increased its position in Warner Bros. Discovery by 1.1% in the 4th quarter. NEOS Investment Management LLC now owns 112,359 shares of the company’s stock worth $1,279,000 after purchasing an additional 1,226 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $8.24 on Friday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The firm has a market capitalization of $20.19 billion, a PE ratio of -6.65 and a beta of 1.48. The business’s 50 day moving average is $7.86 and its 200-day moving average is $7.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06.

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 for the quarter, compared to analyst estimates of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.51) EPS. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current year.

Wall Street Analyst Weigh In

WBD has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Barclays decreased their price target on Warner Bros. Discovery from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Evercore ISI decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.93.

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.