Anchor Investment Management LLC Has $48,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Anchor Investment Management LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 24.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,847 shares of the company’s stock after selling 1,870 shares during the quarter. Anchor Investment Management LLC’s holdings in Warner Bros. Discovery were worth $48,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares during the period. Private Management Group Inc. grew its holdings in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the period. Hauser Brothers GmbH raised its position in shares of Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after acquiring an additional 440,000 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at about $1,474,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at about $588,000. Institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on WBD. Raymond James boosted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Bank of America reissued a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Friday. Finally, Macquarie upped their price objective on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.33.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $12.07 on Friday. The company has a fifty day moving average price of $9.11 and a 200-day moving average price of $8.24. The firm has a market cap of $29.61 billion, a price-to-earnings ratio of -2.64 and a beta of 1.52. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the firm posted ($0.17) EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

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.