Summit Trail Advisors LLC Sells 3,310 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Summit Trail Advisors LLC lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.3% in the fourth quarter, HoldingsChannel reports. The firm owned 13,008 shares of the company’s stock after selling 3,310 shares during the period. Summit Trail Advisors LLC’s holdings in Warner Bros. Discovery were worth $148,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the 3rd quarter worth about $25,000. Pacifica Partners Inc. grew its holdings in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the period. Peoples Bank KS acquired a new stake in Warner Bros. Discovery in the third quarter worth $27,000. Milestone Investment Advisors LLC bought a new position in shares of Warner Bros. Discovery during the third quarter worth $28,000. Finally, Headinvest LLC acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at $28,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.4 %

NASDAQ WBD opened at $7.80 on Thursday. Warner Bros. Discovery, Inc. has a 12 month low of $7.34 and a 12 month high of $14.76. 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 stock has a 50 day moving average of $8.40 and a 200-day moving average of $9.82. The company has a market cap of $19.03 billion, a PE ratio of -6.09 and a beta of 1.51.

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

Analyst Ratings Changes

Several research analysts have weighed in on WBD shares. Barrington Research reduced their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. JPMorgan Chase & Co. dropped their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $16.00 to $12.00 in a report on Monday, January 29th. Citigroup cut their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Macquarie lowered their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.83.

About Warner Bros. Discovery

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.