Corrado Advisors LLC Purchases 17,302 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Corrado Advisors LLC raised its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 14.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,810 shares of the company’s stock after acquiring an additional 17,302 shares during the period. Corrado Advisors LLC’s holdings in Warner Bros. Discovery were worth $1,153,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WBD. Family Firm Inc. bought a new stake in shares of Warner Bros. Discovery in the second quarter valued at approximately $26,000. Crewe Advisors LLC bought a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $27,000. OFI Invest Asset Management boosted its stake in shares of Warner Bros. Discovery by 45.9% in the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after buying an additional 1,221 shares during the period. Transcendent Capital Group LLC boosted its stake in shares of Warner Bros. Discovery by 665.4% in the first quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company’s stock valued at $35,000 after buying an additional 3,480 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of Warner Bros. Discovery in the first quarter valued at approximately $39,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 2.0 %

Shares of NASDAQ:WBD opened at $9.18 on Friday. The firm has a market cap of $22.51 billion, a P/E ratio of -1.91 and a beta of 1.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.06. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The business has a fifty day simple moving average of $7.90 and a 200 day simple moving average of $7.84.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.28% and a negative net margin of 29.47%. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned ($0.17) EPS. Analysts predict that Warner Bros. Discovery, Inc. will post -4.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WBD. Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $10.00 to $8.00 in a report on Tuesday, August 13th. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Monday, October 7th. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Macquarie raised their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday. Finally, Evercore ISI reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.55.

About Warner Bros. Discovery

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.