Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.6% during the 4th quarter, Holdings Channel reports. The fund owned 19,610 shares of the company’s stock after selling 2,081 shares during the quarter. Merit Financial Group LLC’s holdings in Warner Bros. Discovery were worth $223,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WBD. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth about $25,000. Peoples Bank KS acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $27,000. Pacifica Partners Inc. increased its stake in Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in Warner Bros. Discovery during the third quarter worth approximately $28,000. Finally, Headinvest LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

WBD has been the subject of several research analyst reports. Benchmark restated a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Macquarie dropped their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. 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 target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Finally, Barclays reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $8.04 on Friday. Warner Bros. Discovery, Inc. has a 1 year low of $7.34 and a 1 year high of $14.76. The stock has a market cap of $19.62 billion, a PE ratio of -6.28 and a beta of 1.51. The stock has a fifty day moving average price of $8.39 and a 200 day moving average price of $9.80. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The business had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

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.