Farmers & Merchants Investments Inc. Lowers Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Farmers & Merchants Investments Inc. lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,956 shares of the company’s stock after selling 2,212 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Warner Bros. Discovery were worth $122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $25,000. Pacifica Partners Inc. lifted its stake in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the period. Headinvest LLC acquired a new position in Warner Bros. Discovery during the third quarter worth about $28,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $33,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 56.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after acquiring an additional 1,105 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WBD shares. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective for the company. in a report on Tuesday, April 23rd. Barrington Research reissued an “outperform” rating and issued a $15.00 price target on shares of Warner Bros. Discovery in a report on Tuesday, May 28th. Sanford C. Bernstein decreased their price objective on Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. The Goldman Sachs Group started coverage on shares of Warner Bros. Discovery in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 target price for the company. Finally, Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. One research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.82.

Warner Bros. Discovery Trading Up 0.1 %

NASDAQ WBD traded up $0.01 during mid-day trading on Tuesday, hitting $7.11. The company’s stock had a trading volume of 8,538,981 shares, compared to its average volume of 27,882,273. The firm has a market capitalization of $17.42 billion, a P/E ratio of -5.84 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery, Inc. has a 52-week low of $6.94 and a 52-week high of $14.76. The stock’s fifty day simple moving average is $7.83 and its two-hundred day simple moving average is $9.04.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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). Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The business had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue was down 6.9% compared to the same quarter last year. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current year.

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.