Sterneck Capital Management LLC Has $83,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Sterneck Capital Management LLC lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 49.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,088 shares of the company’s stock after selling 9,909 shares during the period. Sterneck Capital Management LLC’s holdings in Warner Bros. Discovery were worth $83,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado increased its stake in Warner Bros. Discovery by 5,128.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 350,559 shares of the company’s stock valued at $3,989,000 after purchasing an additional 343,854 shares in the last quarter. Thompson Investment Management Inc. increased its position in shares of Warner Bros. Discovery by 23.5% during the first quarter. Thompson Investment Management Inc. now owns 1,118,931 shares of the company’s stock worth $9,768,000 after acquiring an additional 213,149 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Warner Bros. Discovery by 8.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 66,843 shares of the company’s stock worth $584,000 after acquiring an additional 5,081 shares during the last quarter. Global Assets Advisory LLC bought a new position in Warner Bros. Discovery in the 1st quarter valued at about $182,000. Finally, SageView Advisory Group LLC acquired a new position in Warner Bros. Discovery during the 4th quarter valued at about $129,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $7.74 on Friday. The firm has a market capitalization of $18.97 billion, a PE ratio of -6.24 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average price of $7.84 and a two-hundred day moving average price of $7.95. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $10.07 billion. During the same period last year, the business posted ($0.51) earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WBD. JPMorgan Chase & Co. dropped their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Evercore ISI cut their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Macquarie lowered their target price on shares of Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Monday, August 12th. The Goldman Sachs Group cut their price target on shares of Warner Bros. Discovery from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Sanford C. Bernstein lowered shares of Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.93.

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.