DRW Securities LLC Reduces Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DRW Securities LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.8% in the 3rd quarter, Holdings Channel reports. The firm owned 110,646 shares of the company’s stock after selling 38,396 shares during the period. DRW Securities LLC’s holdings in Warner Bros. Discovery were worth $913,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WBD. Harvest Fund Management Co. Ltd boosted its stake in Warner Bros. Discovery by 52.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 112,943 shares of the company’s stock worth $931,000 after buying an additional 38,798 shares during the last quarter. Wittenberg Investment Management Inc. boosted its stake in Warner Bros. Discovery by 5.1% during the third quarter. Wittenberg Investment Management Inc. now owns 1,046,933 shares of the company’s stock worth $8,637,000 after buying an additional 50,782 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Warner Bros. Discovery during the third quarter worth $2,233,000. Daiwa Securities Group Inc. boosted its stake in Warner Bros. Discovery by 8.4% during the third quarter. Daiwa Securities Group Inc. now owns 569,009 shares of the company’s stock worth $4,694,000 after buying an additional 44,185 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in Warner Bros. Discovery by 54.1% during the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WBD. Benchmark reaffirmed a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Macquarie increased their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, TD Cowen reduced their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.40 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 stock has a market cap of $25.51 billion, a price-to-earnings ratio of -2.27 and a beta of 1.48. The business has a fifty 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 (NASDAQ:WBD) last released its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.