Corrado Advisors LLC Acquires 17,302 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Corrado Advisors LLC lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,810 shares of the company’s stock after acquiring an additional 17,302 shares during the period. Corrado Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Texas Permanent School Fund Corp grew its stake in shares of Warner Bros. Discovery by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 458,382 shares of the company’s stock valued at $4,002,000 after buying an additional 5,830 shares during the period. Empirical Finance LLC grew its stake in shares of Warner Bros. Discovery by 3.5% in the 1st quarter. Empirical Finance LLC now owns 79,751 shares of the company’s stock valued at $696,000 after buying an additional 2,713 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Warner Bros. Discovery in the 1st quarter valued at about $457,000. Empowered Funds LLC grew its stake in shares of Warner Bros. Discovery by 124.5% in the 1st quarter. Empowered Funds LLC now owns 52,891 shares of the company’s stock valued at $462,000 after buying an additional 29,330 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Warner Bros. Discovery by 1.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 380,578 shares of the company’s stock valued at $3,322,000 after buying an additional 3,818 shares during the period. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Down 2.0 %

NASDAQ:WBD opened at $9.18 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $22.51 billion, a PE ratio of -1.91 and a beta of 1.48. The firm’s 50 day moving average is $7.90 and its 200 day moving average is $7.84. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on WBD. Morgan Stanley cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. Benchmark reiterated a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Wells Fargo & Company cut their price target on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “neutral” rating and set a $9.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Finally, The Goldman Sachs Group lifted their target price on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.55.

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.