Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,730 shares of the company’s stock after selling 7,870 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Warner Bros. Discovery were worth $350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in Warner Bros. Discovery by 15.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after purchasing an additional 53,909 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Warner Bros. Discovery by 39.9% during the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock valued at $4,594,000 after acquiring an additional 120,586 shares during the period. New South Capital Management Inc. increased its stake in Warner Bros. Discovery by 21.1% in the 3rd quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock valued at $44,334,000 after buying an additional 711,820 shares during the period. Assenagon Asset Management S.A. increased its stake in Warner Bros. Discovery by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after buying an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $105,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock traded down $0.11 during mid-day trading on Wednesday, reaching $8.33. The company had a trading volume of 11,550,901 shares, compared to its average volume of 26,379,365. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76. The company has a 50 day moving average of $8.72 and a 200-day moving average of $10.02. The firm has a market cap of $20.32 billion, a price-to-earnings ratio of -6.52 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period last year, the company earned $0.42 earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal year.

Analyst Ratings Changes

WBD has been the topic of several research reports. Macquarie dropped their price objective on shares of 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. Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, February 26th. Barrington Research dropped their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Finally, Citigroup decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $13.83.

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.