Focus Partners Advisor Solutions LLC Cuts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Focus Partners Advisor Solutions LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 49.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,299 shares of the company’s stock after selling 22,172 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Warner Bros. Discovery were worth $236,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WBD. Nisa Investment Advisors LLC increased its holdings in Warner Bros. Discovery by 8.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 159,767 shares of the company’s stock valued at $1,689,000 after buying an additional 12,910 shares during the period. Brighton Jones LLC increased its holdings in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after buying an additional 51,920 shares during the period. Cornerstone Wealth Management LLC grew its holdings in Warner Bros. Discovery by 7.4% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after purchasing an additional 1,101 shares during the last quarter. CX Institutional grew its holdings in Warner Bros. Discovery by 16.6% in the fourth quarter. CX Institutional now owns 25,859 shares of the company’s stock worth $273,000 after purchasing an additional 3,690 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Warner Bros. Discovery in the fourth quarter worth $120,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Barclays lifted their price target on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Morgan Stanley cut their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.22.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Trading Down 0.2%

NASDAQ WBD opened at $9.00 on Monday. The company has a market capitalization of $22.09 billion, a PE ratio of -1.97, a P/E/G ratio of 8.64 and a beta of 1.46. The company has a fifty day moving average of $9.06 and a 200 day moving average of $9.93. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. 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 (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.