TCI Wealth Advisors Inc. Purchases Shares of 10,963 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

TCI Wealth Advisors Inc. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,963 shares of the company’s stock, valued at approximately $90,000.

Several other large investors also recently modified their holdings of the stock. OFI Invest Asset Management grew its stake in Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after buying an additional 1,221 shares during the last quarter. GAM Holding AG increased its stake in shares of Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company’s stock worth $3,776,000 after purchasing an additional 1,437 shares during the period. Waldron Private Wealth LLC lifted its holdings in Warner Bros. Discovery by 5.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company’s stock worth $234,000 after purchasing an additional 1,461 shares during the last quarter. Wellington Shields Capital Management LLC raised its stake in Warner Bros. Discovery by 38.9% in the 1st quarter. Wellington Shields Capital Management LLC now owns 5,317 shares of the company’s stock worth $46,000 after purchasing an additional 1,488 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in Warner Bros. Discovery by 1.4% in the 3rd quarter. PFG Investments LLC now owns 112,307 shares of the company’s stock valued at $927,000 after purchasing an additional 1,517 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Up 0.1 %

WBD opened at $7.61 on Tuesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company’s 50-day moving average is $7.82 and its 200 day moving average is $7.83. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $18.65 billion, a P/E ratio of -6.14 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($3.89). Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WBD. JPMorgan Chase & Co. dropped their price target on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Moffett Nathanson cut their target price on Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. TD Cowen reduced their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of “Hold” and an average price target of $10.66.

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.