Corrado Advisors LLC Has $1.54 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Corrado Advisors LLC cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 135,281 shares of the company’s stock after selling 3,231 shares during the quarter. Corrado Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,539,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth $25,000. Peoples Bank KS acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth $27,000. Pacifica Partners Inc. raised its holdings in shares of Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after acquiring an additional 1,345 shares during the period. Milestone Investment Advisors LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter worth about $28,000. Finally, Headinvest LLC acquired a new stake in Warner Bros. Discovery in the 3rd quarter worth about $28,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on WBD shares. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Barclays dropped 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. Macquarie dropped their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. Finally, Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Trading Down 0.4 %

Shares of NASDAQ:WBD traded down $0.03 during trading on Tuesday, reaching $8.44. The stock had a trading volume of 25,124,931 shares, compared to its average volume of 26,574,645. The firm’s fifty day moving average is $8.74 and its 200 day moving average is $10.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76. The stock has a market cap of $20.59 billion, a price-to-earnings ratio of -6.59 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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 the consensus estimate of $10.34 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 EPS 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.