HighTower Advisors LLC Has $2.52 Million Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

HighTower Advisors LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 308,420 shares of the company’s stock after selling 16,266 shares during the period. HighTower Advisors LLC’s holdings in Warner Bros. Discovery were worth $2,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sessa Capital IM L.P. raised its stake in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Warner Bros. Discovery by 781.3% during the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after purchasing an additional 3,826,715 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares during the last quarter. Drexel Morgan & Co. lifted its holdings in Warner Bros. Discovery by 43.5% during the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC bought a new stake in Warner Bros. Discovery during the second quarter worth about $14,760,000. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WBD. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday. Raymond James lifted their price objective on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and an average target price of $11.33.

Warner Bros. Discovery Trading Down 3.4 %

Shares of NASDAQ:WBD opened at $12.07 on Friday. The stock has a market capitalization of $29.61 billion, a PE ratio of -2.64 and a beta of 1.52. The company’s 50-day moving average price is $9.11 and its two-hundred day moving average price is $8.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

About Warner Bros. Discovery

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.