Moors & Cabot Inc. Has $364,000 Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Moors & Cabot Inc. decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.5% in the 3rd quarter, Holdings Channel reports. The firm owned 44,161 shares of the company’s stock after selling 2,562 shares during the quarter. Moors & Cabot Inc.’s holdings in Warner Bros. Discovery were worth $364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WBD. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 28.8% during the 2nd quarter. Sessa Capital IM L.P. now owns 22,784,883 shares of the company’s stock valued at $169,520,000 after acquiring an additional 5,100,000 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Warner Bros. Discovery by 781.3% during the second quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock valued at $32,115,000 after purchasing an additional 3,826,715 shares during the period. Mackenzie Financial Corp boosted its position in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Warner Bros. Discovery by 14.6% in the 1st quarter. EdgePoint Investment Group Inc. now owns 20,620,335 shares of the company’s stock valued at $180,016,000 after buying an additional 2,621,582 shares during the period. Finally, Drexel Morgan & Co. increased its position in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock valued at $54,454,000 after buying an additional 2,000,000 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WBD. Rosenblatt Securities reiterated a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Moffett Nathanson decreased their price target 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. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Barrington Research reiterated an “outperform” rating and set a $12.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Trading Down 1.2 %

Shares of WBD opened at $10.11 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The business has a 50-day moving average of $8.34 and a 200 day moving average of $7.95. The firm has a market cap of $24.80 billion, a P/E ratio of -2.21 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

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

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.