Prospera Financial Services Inc Sells 1,305 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Prospera Financial Services Inc lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,022 shares of the company’s stock after selling 1,305 shares during the quarter. Prospera Financial Services Inc’s holdings in Warner Bros. Discovery were worth $248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth $99,000. Pathstone Holdings LLC raised its holdings in Warner Bros. Discovery by 11.6% in the 3rd quarter. Pathstone Holdings LLC now owns 171,331 shares of the company’s stock worth $1,413,000 after purchasing an additional 17,869 shares in the last quarter. Quest Partners LLC raised its stake in Warner Bros. Discovery by 173.7% in the third quarter. Quest Partners LLC now owns 44,284 shares of the company’s stock worth $365,000 after buying an additional 28,104 shares in the last quarter. AMG National Trust Bank lifted its holdings in Warner Bros. Discovery by 211.3% in the third quarter. AMG National Trust Bank now owns 418,014 shares of the company’s stock worth $3,449,000 after buying an additional 283,725 shares during the period. Finally, Swiss National Bank boosted its position in Warner Bros. Discovery by 0.7% during the 3rd quarter. Swiss National Bank now owns 6,909,427 shares of the company’s stock valued at $57,003,000 after acquiring an additional 47,300 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Macquarie raised their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Evercore ISI cut their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Trading Up 2.9 %

Shares of WBD opened at $10.40 on Tuesday. The company’s fifty day simple moving average is $8.34 and its 200-day simple moving average is $7.95. The company has a market cap of $25.51 billion, a P/E ratio of -2.27 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the company posted ($0.17) EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS 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.