Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Reduced by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,819 shares of the company’s stock after selling 2,294 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WBD. Fortis Group Advisors LLC acquired a new position in Warner Bros. Discovery in the third quarter valued at approximately $25,000. Pacifica Partners Inc. lifted its holdings in shares of Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after purchasing an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at approximately $28,000. Headinvest LLC bought a new position in Warner Bros. Discovery during the 3rd quarter worth $28,000. Finally, Systematic Alpha Investments LLC acquired a new stake in Warner Bros. Discovery in the third quarter worth $31,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Sanford C. Bernstein reduced their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Barclays decreased their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $13.32.

Warner Bros. Discovery Stock Up 2.2 %

NASDAQ WBD opened at $8.06 on Thursday. The company has a market capitalization of $19.66 billion, a P/E ratio of -6.50 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12 month low of $7.34 and a 12 month high of $14.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company’s 50 day simple moving average is $8.31 and its 200 day simple moving average is $9.67.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. Warner Bros. Discovery’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.18 EPS. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal 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.