Atria Wealth Solutions Inc. Cuts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Atria Wealth Solutions Inc. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.6% during the fourth quarter, Holdings Channel reports. The firm owned 204,372 shares of the company’s stock after selling 63,135 shares during the period. Atria Wealth Solutions Inc.’s holdings in Warner Bros. Discovery were worth $2,326,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WBD. Boston Partners raised its stake in shares of Warner Bros. Discovery by 43.0% during the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares during the period. Invesco Ltd. boosted its stake in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after acquiring an additional 4,016,888 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Warner Bros. Discovery by 12.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock valued at $237,007,000 after acquiring an additional 2,356,665 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of Warner Bros. Discovery by 1,232.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after purchasing an additional 1,524,370 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Warner Bros. Discovery by 55.5% during the 3rd quarter. UBS Group AG now owns 3,964,873 shares of the company’s stock worth $43,059,000 after purchasing an additional 1,415,744 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on WBD shares. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research report on Tuesday, April 23rd. Finally, Benchmark reissued a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery Trading Up 0.5 %

Warner Bros. Discovery stock opened at $8.15 on Tuesday. The stock has a market cap of $19.88 billion, a P/E ratio of -6.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s fifty day moving average price is $8.59 and its 200-day moving average price is $9.95. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $10.28 billion for the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.33 earnings per share 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.