Warner Bros. Discovery, Inc. $WBD Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,468 shares of the company’s stock after selling 88,895 shares during the period. Cetera Investment Advisers’ holdings in Warner Bros. Discovery were worth $7,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WBD. Levin Capital Strategies L.P. purchased a new position in Warner Bros. Discovery in the first quarter valued at $275,000. ABN Amro Investment Solutions purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $2,484,000. Oslo Pensjonsforsikring AS purchased a new stake in Warner Bros. Discovery during the 1st quarter worth about $341,000. Andra AP fonden boosted its position in shares of Warner Bros. Discovery by 84.9% during the 1st quarter. Andra AP fonden now owns 517,235 shares of the company’s stock worth $14,203,000 after acquiring an additional 237,435 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery during the 1st quarter worth about $108,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Seaport Research Partners cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating in a research note on Monday, July 27th. KeyCorp reaffirmed an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Finally, Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery Stock Up 3.3%

Shares of NASDAQ WBD opened at $26.30 on Friday. The business has a 50-day moving average price of $26.57 and a 200 day moving average price of $27.29. The stock has a market cap of $65.94 billion, a PE ratio of -37.57 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 52-week low of $10.76 and a 52-week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the firm earned ($0.18) EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.08 earnings per share for the current year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.