Fortis Advisors LLC Acquires Shares of 14,200 Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fortis Advisors LLC bought a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) during the first quarter, Holdings Channel.com reports. The firm bought 14,200 shares of the company’s stock, valued at approximately $152,000.

Other large investors also recently modified their holdings of the company. Colonial Trust Advisors boosted its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. lifted its position in Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter worth $29,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.03 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $24.62 billion, a price-to-earnings ratio of -2.19, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51. The stock’s 50-day moving average is $8.99 and its 200-day moving average is $9.94. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 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 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.40) EPS. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WBD has been the topic of several recent research reports. KeyCorp reduced their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 9th. Citigroup lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Eleven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.17.

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.