Cerity Partners LLC Boosts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cerity Partners LLC grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,582 shares of the company’s stock after purchasing an additional 5,377 shares during the quarter. Cerity Partners LLC’s holdings in Warner Bros. Discovery were worth $2,699,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Colonial Trust Advisors increased its holdings in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Flagship Harbor Advisors LLC grew its stake in Warner Bros. Discovery by 9.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company’s stock valued at $160,000 after acquiring an additional 1,318 shares during the period. Bessemer Group Inc. grew its stake in Warner Bros. Discovery by 11.4% in the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company’s stock valued at $139,000 after acquiring an additional 1,338 shares during the period. CX Institutional grew its stake in Warner Bros. Discovery by 5.7% in the 1st quarter. CX Institutional now owns 27,324 shares of the company’s stock valued at $293,000 after acquiring an additional 1,465 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its stake in Warner Bros. Discovery by 9.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company’s stock valued at $202,000 after acquiring an additional 1,561 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of research analyst reports. Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. KeyCorp lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 2nd. Finally, Bank of America lifted their target price on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.41.

Warner Bros. Discovery Stock Down 0.7%

Shares of NASDAQ:WBD opened at $12.75 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $31.30 billion, a PE ratio of -2.90 and a beta of 1.54. The firm’s 50-day moving average is $10.45 and its two-hundred day moving average is $10.03. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $13.04.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the firm posted ($0.40) earnings per share. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current 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.