Janney Montgomery Scott LLC Sells 42,447 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Janney Montgomery Scott LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 256,025 shares of the company’s stock after selling 42,447 shares during the period. Janney Montgomery Scott LLC’s holdings in Warner Bros. Discovery were worth $2,914,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter valued at approximately $25,000. Pacifica Partners Inc. raised its holdings in Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the period. Milestone Investment Advisors LLC bought a new stake in Warner Bros. Discovery in the third quarter worth $28,000. Headinvest LLC bought a new position in Warner Bros. Discovery during the third quarter valued at $28,000. Finally, Systematic Alpha Investments LLC purchased a new stake in shares of Warner Bros. Discovery in the third quarter valued at $31,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WBD shares. Citigroup cut their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Barclays decreased their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.32.

Warner Bros. Discovery Trading Up 0.3 %

NASDAQ:WBD opened at $7.73 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The company’s 50 day moving average is $8.28 and its two-hundred day moving average is $9.63.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the previous year, the company earned $0.18 earnings per share. Warner Bros. Discovery’s revenue was down 6.9% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Warner Bros. Discovery 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.