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

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

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Sessa Capital IM L.P. raised its holdings in shares of 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 Warner Bros. Discovery by 781.3% in 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 during the last quarter. Mackenzie Financial Corp raised its stake in shares of 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 worth $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. Drexel Morgan & Co. lifted its holdings in shares of 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 buying an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC bought a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at approximately $14,760,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WBD. Raymond James raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Rosenblatt Securities upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Finally, Barrington Research reiterated an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.33.

Warner Bros. Discovery Stock Down 3.4 %

WBD stock opened at $12.07 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $29.61 billion, a PE ratio of -2.64 and a beta of 1.52. The business’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $8.24.

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

Warner Bros. Discovery Company 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.