Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Trimmed by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,258 shares of the company’s stock after selling 1,989 shares during the period. Stratos Wealth Partners LTD.’s holdings in Warner Bros. Discovery were worth $239,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Colonial Trust Advisors increased its stake in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock worth $160,000 after acquiring an additional 1,318 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Warner Bros. Discovery by 11.4% during the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock worth $139,000 after acquiring an additional 1,338 shares during the last quarter. CX Institutional grew its position in shares of Warner Bros. Discovery by 5.7% during the first quarter. CX Institutional now owns 27,324 shares of the company’s stock worth $293,000 after acquiring an additional 1,465 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Warner Bros. Discovery by 9.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company’s stock worth $202,000 after acquiring an additional 1,561 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $12.58 on Thursday. The company has a 50 day simple moving average of $10.30 and a 200-day simple moving average of $10.00. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of -2.86 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results 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 company had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. Warner Bros. Discovery’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company earned ($0.40) earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WBD. Barclays upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Argus upgraded shares of Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Benchmark restated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Monday. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Finally, Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a report on Monday, June 9th. Twelve research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.41.

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.