Avantax Advisory Services Inc. Purchases 7,952 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Avantax Advisory Services Inc. lifted its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,840 shares of the company’s stock after purchasing an additional 7,952 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Warner Bros. Discovery were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WBD. Colonial Trust Advisors increased its holdings in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after buying an additional 996 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $27,000. North Capital Inc. purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Warner Bros. Discovery in the first quarter valued at approximately $29,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $30,000. 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 recent analyst reports. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Guggenheim reiterated a “buy” rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. KeyCorp upped their target price on Warner Bros. Discovery from $13.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Monday, July 14th. Finally, Wells Fargo & Company upped their price objective on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 2nd. Twelve research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.66.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $12.72 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $13.86. The business has a fifty day moving average of $11.41 and a 200-day moving average of $10.29. The stock has a market cap of $31.22 billion, a price-to-earnings ratio of -2.89 and a beta of 1.57.

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