Commonwealth Equity Services LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by on May 9th, 2023

Commonwealth Equity Services LLC trimmed its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 9.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,646 shares of the company’s stock after selling 90,456 shares during the period. Commonwealth Equity Services LLC’s holdings in Warner Bros. Discovery were worth $7,808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JCIC Asset Management Inc. bought a new position in Warner Bros. Discovery in the 3rd quarter worth $25,000. Peoples Financial Services CORP. bought a new position in Warner Bros. Discovery in the 4th quarter worth $25,000. Guardian Wealth Advisors LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth $26,000. CVA Family Office LLC bought a new position in Warner Bros. Discovery in the 3rd quarter worth $26,000. Finally, Lee Financial Co bought a new position in Warner Bros. Discovery in the 3rd quarter worth $27,000. 55.18% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Trading Up 4.4 %

Shares of Warner Bros. Discovery stock opened at $13.46 on Tuesday. The firm has a 50-day simple moving average of $14.25 and a two-hundred day simple moving average of $12.96. The company has a market cap of $32.71 billion, a P/E ratio of -3.59, a price-to-earnings-growth ratio of 1.98 and a beta of 1.47. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $18.76. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.93 and a current ratio of 0.93.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research reports. Guggenheim raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $16.50 price objective for the company in a report on Wednesday, January 11th. Truist Financial started coverage on shares of Warner Bros. Discovery in a report on Monday, April 10th. They set a “buy” rating and a $19.00 price objective for the company. Morgan Stanley increased their price target on shares of Warner Bros. Discovery from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Rosenblatt Securities increased their price target on shares of Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a report on Friday, February 24th. Finally, Macquarie increased their price target on shares of Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average price target of $21.31.

Warner Bros. Discovery Profile

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Warner Bros. Discovery, Inc operates as a media and entertainment company. It creates and distributes a portfolio of content and brands across television, film, and streaming. Its brands and products include Discovery Channel, discovery+, CNN, CNN+, DC, Eurosport, HBO, HBO Max, HGTV, Food Network, Investigation Discovery, TLC, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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