Biechele Royce Advisors Sells 6,769 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Biechele Royce Advisors trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 327,117 shares of the company’s stock after selling 6,769 shares during the quarter. Warner Bros. Discovery makes up approximately 0.9% of Biechele Royce Advisors’ holdings, making the stock its 22nd largest position. Biechele Royce Advisors’ holdings in Warner Bros. Discovery were worth $2,856,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $25,000. Pacifica Partners Inc. lifted 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 valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Headinvest LLC purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock valued at $35,000 after purchasing an additional 1,105 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.06 during mid-day trading on Thursday, hitting $7.38. 19,712,304 shares of the company’s stock traded hands, compared to its average volume of 27,727,504. The company’s 50-day moving average is $7.70 and its two-hundred day moving average is $8.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $18.08 billion, a P/E ratio of -5.95 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1 year low of $6.94 and a 1 year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.16). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter in the prior year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein decreased their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price for the company in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Warner Bros. Discovery in a research note on Tuesday, June 25th. They set a “neutral” rating and a $8.50 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.82.

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.