Investors Research Corp Sells 3,416 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Investors Research Corp reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,420 shares of the company’s stock after selling 3,416 shares during the period. Investors Research Corp’s holdings in Warner Bros. Discovery were worth $73,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thompson Siegel & Walmsley LLC acquired a new position in Warner Bros. Discovery during the third quarter worth $32,838,000. Retirement Systems of Alabama bought a new stake in Warner Bros. Discovery during the 3rd quarter worth about $8,438,000. First Trust Advisors LP acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $4,168,000. Price T Rowe Associates Inc. MD bought a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $49,058,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at about $601,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WBD shares. Barclays dropped their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities raised Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price objective for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Benchmark reissued a “buy” rating and set a $20.00 target price on shares of Warner Bros. Discovery in a report on Monday, March 4th. JPMorgan Chase & Co. cut their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Finally, Barrington Research decreased their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.24.

Warner Bros. Discovery Price Performance

NASDAQ WBD opened at $8.14 on Wednesday. The business has a fifty day moving average price of $8.86 and a two-hundred day moving average price of $10.08. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $14.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. Warner Bros. Discovery’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. As a group, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current 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.