Moors & Cabot Inc. Cuts Stock Position in Warner Bros. Discovery, Inc. $WBD

Moors & Cabot Inc. lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 48.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,228 shares of the company’s stock after selling 22,763 shares during the period. Moors & Cabot Inc.’s holdings in Warner Bros. Discovery were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Concord Wealth Partners grew its stake in Warner Bros. Discovery by 49.9% in the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after purchasing an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. grew its stake in Warner Bros. Discovery by 152.1% in the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after purchasing an additional 847 shares during the last quarter. Rakuten Securities Inc. grew its stake in Warner Bros. Discovery by 81.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Warner Bros. Discovery in the third quarter valued at about $33,000. Finally, TOWER TRUST & INVESTMENT Co grew its stake in Warner Bros. Discovery by 4,730.8% in the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after purchasing an additional 1,230 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Warner Bros. Discovery stock opened at $27.01 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 52 week low of $9.11 and a 52 week high of $30.00. The company has a market capitalization of $67.72 billion, a price-to-earnings ratio of -38.59 and a beta of 1.54. The stock has a 50-day moving average price of $27.22 and a 200 day moving average price of $27.28.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.

Insider Activity

In related news, Director Paul A. Gould sold 600,000 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the sale, the director owned 244,357 shares of the company’s stock, valued at $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gunnar Wiedenfels sold 374,323 shares of Warner Bros. Discovery stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total value of $10,499,760.15. Following the sale, the chief financial officer directly owned 663,380 shares of the company’s stock, valued at $18,607,809. This trade represents a 36.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on WBD. Rothschild & Co Redburn set a $31.00 target price on Warner Bros. Discovery and gave the company a “neutral” rating in a research note on Tuesday, February 17th. TD Cowen lifted their target price on Warner Bros. Discovery from $22.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, February 27th. Arete Research restated a “neutral” rating and set a $31.25 price target on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Argus dropped their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Sanford C. Bernstein boosted their price target on Warner Bros. Discovery from $23.50 to $27.75 and gave the stock a “market perform” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.