Pekin Hardy Strauss Inc. Has $1.99 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pekin Hardy Strauss Inc. reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,552 shares of the company’s stock after selling 23,300 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Warner Bros. Discovery were worth $1,993,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WBD. Sessa Capital IM L.P. boosted its position in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Warner Bros. Discovery by 1.1% during the second quarter. EdgePoint Investment Group Inc. now owns 20,855,527 shares of the company’s stock worth $155,165,000 after purchasing an additional 235,192 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Warner Bros. Discovery by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after purchasing an additional 687,612 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Warner Bros. Discovery by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,192,814 shares of the company’s stock valued at $105,595,000 after buying an additional 719,869 shares during the last quarter. Finally, Yacktman Asset Management LP increased its stake in Warner Bros. Discovery by 1.2% in the 2nd quarter. Yacktman Asset Management LP now owns 8,152,369 shares of the company’s stock valued at $60,654,000 after buying an additional 100,565 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Trading Down 1.2 %

Shares of NASDAQ:WBD opened at $10.11 on Friday. The stock has a market cap of $24.80 billion, a PE ratio of -2.21 and a beta of 1.48. The business has a 50 day moving average of $8.34 and a 200-day moving average of $7.95. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. 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 quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the subject of a number of recent research reports. Moffett Nathanson reduced their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Sanford C. Bernstein cut Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Evercore ISI cut their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.55.

About Warner Bros. Discovery

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.