CoreCap Advisors LLC Sells 1,391 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Posted by Defense World Staff on May 29th, 2023

CoreCap Advisors LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Get Rating) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,424 shares of the company’s stock after selling 1,391 shares during the period. CoreCap Advisors LLC’s holdings in Warner Bros. Discovery were worth $118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Kestra Private Wealth Services LLC raised its position in Warner Bros. Discovery by 1.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 38,375 shares of the company’s stock valued at $364,000 after purchasing an additional 708 shares in the last quarter. Kentucky Retirement Systems raised its position in Warner Bros. Discovery by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 173,683 shares of the company’s stock valued at $1,647,000 after purchasing an additional 759 shares in the last quarter. First Personal Financial Services raised its position in Warner Bros. Discovery by 19.7% during the 4th quarter. First Personal Financial Services now owns 4,905 shares of the company’s stock valued at $46,000 after purchasing an additional 806 shares in the last quarter. Merit Financial Group LLC raised its position in Warner Bros. Discovery by 3.2% during the 4th quarter. Merit Financial Group LLC now owns 32,628 shares of the company’s stock valued at $309,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Washington Trust Bank raised its position in Warner Bros. Discovery by 7.5% during the 4th quarter. Washington Trust Bank now owns 15,174 shares of the company’s stock valued at $144,000 after purchasing an additional 1,061 shares in the last quarter. 55.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WBD shares. 22nd Century Group reaffirmed a “maintains” rating on shares of Warner Bros. Discovery in a research report on Monday, May 8th. Macquarie lifted their price target on Warner Bros. Discovery from $16.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. Truist Financial started coverage on Warner Bros. Discovery in a report on Monday, April 10th. They issued a “buy” rating and a $19.00 price target on the stock. Rosenblatt Securities lifted their price target on Warner Bros. Discovery from $9.00 to $11.00 and gave the company a “sell” rating in a report on Friday, February 24th. Finally, Wolfe Research upgraded Warner Bros. Discovery from a “peer perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Friday, March 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.83.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $11.44 on Monday. The stock has a market cap of $27.87 billion, a PE ratio of -3.05 and a beta of 1.47. The business has a 50-day simple moving average of $13.56 and a 200-day simple moving average of $12.97. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.96. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $18.76.

Warner Bros. Discovery (NASDAQ:WBD – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.45. The business had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $11.03 billion. Warner Bros. Discovery had a positive return on equity of 3.24% and a negative net margin of 21.51%. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.34 EPS for the current year.

Warner Bros. Discovery Company 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.