Pekin Hardy Strauss Inc. Has $1.99 Million Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pekin Hardy Strauss Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,552 shares of the company’s stock after selling 23,300 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Warner Bros. Discovery were worth $1,993,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WBD. Principal Financial Group Inc. increased its stake in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares in the last quarter. Private Management Group Inc. grew its holdings in Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the last quarter. Mackenzie Financial Corp increased its position in Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after acquiring an additional 2,780,986 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company’s stock worth $1,561,000 after acquiring an additional 163,295 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Warner Bros. Discovery by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 599,957 shares of the company’s stock worth $5,028,000 after acquiring an additional 105,321 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $10.11 on Friday. The stock’s fifty day simple moving average is $8.34 and its 200 day simple moving average is $7.95. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $24.80 billion, a PE ratio of -2.21 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the firm posted ($0.17) earnings per share. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analyst Upgrades and Downgrades

WBD has been the subject of a number of research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $9.00 price target on shares of Warner Bros. Discovery in a report on Friday, September 13th. Wells Fargo & Company lowered their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their price target for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Benchmark reiterated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Barrington Research restated an “outperform” rating and set a $12.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, November 7th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.55.

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.