Nicholas Hoffman & Company LLC. Sells 7,814 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Nicholas Hoffman & Company LLC. lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 29.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,338 shares of the company’s stock after selling 7,814 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Warner Bros. Discovery were worth $160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WBD. Oppenheimer & Co. Inc. grew its position in shares of Warner Bros. Discovery by 15.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after buying an additional 53,909 shares during the period. Daiwa Securities Group Inc. grew its holdings in Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after purchasing an additional 120,586 shares during the period. New South Capital Management Inc. increased its stake in Warner Bros. Discovery by 21.1% in the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock valued at $44,334,000 after purchasing an additional 711,820 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Warner Bros. Discovery by 4.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after purchasing an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $105,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD stock traded down $0.79 during midday trading on Tuesday, hitting $7.36. The company’s stock had a trading volume of 83,347,315 shares, compared to its average volume of 26,970,941. The stock has a market cap of $17.96 billion, a price-to-earnings ratio of -5.75 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average price is $8.54 and its 200 day moving average price is $9.93. Warner Bros. Discovery, Inc. has a 1 year low of $7.35 and a 1 year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period last year, the firm posted $0.42 earnings per share. Warner Bros. Discovery’s quarterly revenue was down 6.6% compared to the same quarter last year. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $16.00 to $12.00 in a research note on Monday, January 29th. Barrington Research cut their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Morgan Stanley decreased their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, March 4th. Finally, Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $13.83.

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.