Cullen Frost Bankers Inc. Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cullen Frost Bankers Inc. decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBDFree Report) by 40.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,116 shares of the company’s stock after selling 8,942 shares during the period. Cullen Frost Bankers Inc.’s holdings in Warner Bros. Discovery were worth $149,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WBD. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter worth about $25,000. Pacifica Partners Inc. boosted its holdings in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares in the last quarter. Peoples Bank KS purchased a new stake in Warner Bros. Discovery during the third quarter worth about $27,000. Milestone Investment Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter worth about $28,000. Finally, Headinvest LLC acquired a new position in Warner Bros. Discovery during the third quarter worth about $28,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WBD. Barrington Research restated an “outperform” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday. Sanford C. Bernstein cut their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday. Citigroup cut their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Barclays lowered their target price on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.32.

Get Our Latest Analysis on WBD

Warner Bros. Discovery Trading Up 1.4 %

Warner Bros. Discovery stock opened at $8.15 on Friday. The firm’s 50-day moving average is $8.38 and its 200-day moving average is $9.79. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.93 and a current ratio of 0.82. Warner Bros. Discovery, Inc. has a 1 year low of $7.34 and a 1 year high of $14.76. The company has a market cap of $19.88 billion, a P/E ratio of -6.57 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBDGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, equities analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

Warner Bros. Discovery Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Bros. Discovery (NASDAQ:WBD)

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