Baxter Bros Inc. Sells 60,098 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Baxter Bros Inc. decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,734 shares of the company’s stock after selling 60,098 shares during the quarter. Baxter Bros Inc.’s holdings in Warner Bros. Discovery were worth $2,432,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WBD. Xponance Inc. lifted its position in shares of Warner Bros. Discovery by 5.9% during the 3rd quarter. Xponance Inc. now owns 286,010 shares of the company’s stock worth $3,106,000 after purchasing an additional 15,976 shares during the last quarter. Dakota Wealth Management lifted its holdings in shares of Warner Bros. Discovery by 22.4% during the third quarter. Dakota Wealth Management now owns 13,498 shares of the company’s stock worth $147,000 after buying an additional 2,471 shares during the last quarter. 1834 Investment Advisors Co. grew its stake in shares of Warner Bros. Discovery by 62.2% in the third quarter. 1834 Investment Advisors Co. now owns 20,137 shares of the company’s stock worth $219,000 after acquiring an additional 7,722 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in Warner Bros. Discovery by 6.9% during the third quarter. Stratos Wealth Partners LTD. now owns 39,934 shares of the company’s stock worth $434,000 after acquiring an additional 2,562 shares during the period. Finally, Stratos Wealth Advisors LLC acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at $109,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded up $0.02 on Friday, hitting $7.97. 35,712,311 shares of the company were exchanged, compared to its average volume of 30,227,984. Warner Bros. Discovery, Inc. has a 1-year low of $7.34 and a 1-year high of $14.76. The company has a market cap of $19.44 billion, a P/E ratio of -6.23 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $8.45 and a two-hundred day moving average of $9.87.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WBD shares. Macquarie dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Barrington Research cut their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, February 26th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Finally, Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus price target of $13.83.

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.