Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Alexander Randolph Advisory Inc.

Alexander Randolph Advisory Inc. decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 388,892 shares of the company’s stock after selling 14,936 shares during the quarter. Warner Bros. Discovery makes up about 4.1% of Alexander Randolph Advisory Inc.’s investment portfolio, making the stock its 5th biggest holding. Alexander Randolph Advisory Inc.’s holdings in Warner Bros. Discovery were worth $4,173,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WBD. Brighton Jones LLC raised its position in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after acquiring an additional 51,920 shares in the last quarter. Teacher Retirement System of Texas raised its position in Warner Bros. Discovery by 39.9% during the fourth quarter. Teacher Retirement System of Texas now owns 21,802 shares of the company’s stock worth $230,000 after acquiring an additional 6,217 shares in the last quarter. LPL Financial LLC raised its position in Warner Bros. Discovery by 22.3% during the fourth quarter. LPL Financial LLC now owns 994,319 shares of the company’s stock worth $10,510,000 after acquiring an additional 181,176 shares in the last quarter. Level Four Advisory Services LLC raised its position in Warner Bros. Discovery by 7.6% during the fourth quarter. Level Four Advisory Services LLC now owns 26,503 shares of the company’s stock worth $280,000 after acquiring an additional 1,866 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Warner Bros. Discovery by 34.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 165,119 shares of the company’s stock worth $1,661,000 after acquiring an additional 42,015 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WBD. Guggenheim reissued a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Argus raised shares of Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Wells Fargo & Company increased their price objective on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 2nd. Barclays increased their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $12.66.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $13.26 on Thursday. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of -3.01 and a beta of 1.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $13.86. The firm’s 50-day simple moving average is $11.02 and its 200 day simple moving average is $10.17.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.