Pekin Hardy Strauss Inc. Has $3.16 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pekin Hardy Strauss Inc. decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 277,658 shares of the company’s stock after selling 28,486 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Warner Bros. Discovery were worth $3,160,000 at the end of the most recent quarter.

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

Warner Bros. Discovery Stock Down 9.7 %

Shares of NASDAQ WBD traded down $0.79 during trading hours on Tuesday, hitting $7.36. 82,498,737 shares of the stock were exchanged, compared to its average volume of 26,959,281. The company has a market cap of $17.96 billion, a PE ratio of -5.78 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12 month low of $7.35 and a 12 month high of $14.76. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average price of $8.59 and a 200-day moving average price of $9.95.

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 analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. 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 report on Thursday, March 21st. Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Citigroup lowered their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Barrington Research cut their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.83.

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.