Warner Bros. Discovery (NASDAQ:WBD) Trading Down 3.9% – Here’s Why

Warner Bros. Discovery, Inc. (NASDAQ:WBD)’s share price fell 3.9% on Tuesday . The company traded as low as $9.07 and last traded at $9.10. 2,003,650 shares were traded during mid-day trading, a decline of 93% from the average session volume of 29,284,037 shares. The stock had previously closed at $9.47.

Analyst Upgrades and Downgrades

Several research analysts have commented on WBD shares. Rosenblatt Securities restated a “neutral” rating and issued a $9.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Barrington Research reiterated an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. TD Cowen dropped their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Stock Up 0.6 %

The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company’s fifty day moving average is $8.10 and its 200-day moving average is $7.88.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. Warner Bros. Discovery’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Hedge Funds Weigh In On Warner Bros. Discovery

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in Warner Bros. Discovery in the 1st quarter worth approximately $27,000. Family Firm Inc. purchased a new position in Warner Bros. Discovery in the 2nd quarter valued at approximately $26,000. OFI Invest Asset Management grew its stake in Warner Bros. Discovery by 45.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares in the last quarter. Transcendent Capital Group LLC raised its holdings in Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after acquiring an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Warner Bros. Discovery during the 1st quarter worth $39,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

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.