Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 41.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,183 shares of the company’s stock after selling 21,078 shares during the period. Kovack Advisors Inc.’s holdings in Warner Bros. Discovery were worth $249,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,609,542 shares of the company’s stock valued at $38,029,000 after purchasing an additional 106,372 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of Warner Bros. Discovery by 96.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company’s stock valued at $443,000 after purchasing an additional 26,421 shares in the last quarter. Versor Investments LP bought a new position in shares of Warner Bros. Discovery during the third quarter worth about $93,000. Mesirow Financial Investment Management Inc. raised its stake in Warner Bros. Discovery by 109.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 32,830 shares of the company’s stock valued at $271,000 after buying an additional 17,187 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in Warner Bros. Discovery by 31.9% during the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock worth $809,000 after buying an additional 23,697 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 6.5 %

Shares of WBD stock opened at $9.22 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48. The business’s fifty day moving average is $8.10 and its 200-day moving average is $7.88. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company earned ($0.17) earnings per share. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the topic of several research analyst reports. Raymond James raised their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Moffett Nathanson decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.55.

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.