Alexander Randolph Advisory Inc. Sells 2,693 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Alexander Randolph Advisory Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 420,460 shares of the company’s stock after selling 2,693 shares during the quarter. Warner Bros. Discovery comprises 2.9% of Alexander Randolph Advisory Inc.’s portfolio, making the stock its 12th largest position. Alexander Randolph Advisory Inc.’s holdings in Warner Bros. Discovery were worth $3,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. bought a new position in Warner Bros. Discovery in the second quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery in the first quarter worth $27,000. OFI Invest Asset Management raised its holdings in Warner Bros. Discovery by 45.9% in the second 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 during the period. First Financial Corp IN raised its holdings in Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after purchasing an additional 2,887 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in Warner Bros. Discovery in the fourth quarter worth $33,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WBD. JPMorgan Chase & Co. dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Morgan Stanley dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Benchmark dropped their price objective on shares of Warner Bros. Discovery from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Warner Bros. Discovery from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.98.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $6.94 on Thursday. The firm has a 50-day moving average of $7.72 and a 200-day moving average of $7.99. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market cap of $17.01 billion, a PE ratio of -5.60 and a beta of 1.48. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). The company had revenue of $9.71 billion for the quarter, compared to the consensus estimate of $10.07 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.51) EPS. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.17 earnings per share for the current 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.