Warner Bros. Discovery (NASDAQ:WBD) Shares Down 4%

Warner Bros. Discovery, Inc. (NASDAQ:WBD) shares dropped 4% on Monday . The company traded as low as $8.27 and last traded at $8.32. Approximately 1,993,480 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 27,923,725 shares. The stock had previously closed at $8.67.

Analyst Ratings Changes

WBD has been the topic of a number of analyst reports. Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. The Goldman Sachs Group initiated coverage on shares of Warner Bros. Discovery in a report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price objective on the stock. Barrington Research restated an “outperform” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, May 28th. Finally, KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price objective on the stock in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.29.

Warner Bros. Discovery Price Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $20.58 billion, a PE ratio of -6.70 and a beta of 1.49. The company’s 50-day simple moving average is $7.72 and its 200-day simple moving average is $8.64.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results 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 analysts’ expectations 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 firm’s revenue was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.39 earnings per share for the current year.

Institutional Trading of Warner Bros. Discovery

Several hedge funds and other institutional investors have recently made changes to their positions in WBD. University of Texas Texas AM Investment Managment Co. purchased a new stake in Warner Bros. Discovery during the fourth quarter worth about $33,000. FinTrust Capital Advisors LLC boosted its holdings in Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in Warner Bros. Discovery during the fourth quarter worth about $35,000. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the first quarter worth about $27,000. Finally, First Financial Corp IN boosted its holdings in Warner Bros. Discovery by 577.4% during the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock worth $30,000 after buying an additional 2,887 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

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.