Crewe Advisors LLC Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Crewe Advisors LLC acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,134 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also modified their holdings of WBD. First Financial Corp IN lifted its stake in Warner Bros. Discovery by 577.4% in the first quarter. First Financial Corp IN now owns 3,387 shares of the company’s stock valued at $30,000 after acquiring an additional 2,887 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new stake in Warner Bros. Discovery in the 4th quarter valued at about $33,000. Future Financial Wealth Managment LLC acquired a new stake in Warner Bros. Discovery in the 1st quarter valued at about $33,000. Rakuten Securities Inc. bought a new position in Warner Bros. Discovery during the fourth quarter worth about $35,000. Finally, FinTrust Capital Advisors LLC increased its position in Warner Bros. Discovery by 56.3% during the fourth quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded down $0.48 during mid-day trading on Thursday, reaching $7.99. 31,959,234 shares of the company were exchanged, compared to its average volume of 28,039,424. The company has a fifty day simple moving average of $7.73 and a 200-day simple moving average of $8.60. The firm has a market cap of $19.58 billion, a PE ratio of -6.43 and a beta of 1.49. 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 12 month low of $6.94 and a 12 month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The company had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the business posted $0.18 EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Warner Bros. Discovery in a research report on Tuesday. Evercore ISI cut their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Sanford C. Bernstein decreased their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. Finally, The Goldman Sachs Group began coverage on shares of Warner Bros. Discovery in a report on Tuesday, June 25th. They issued a “neutral” rating and a $8.50 price target on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.87.

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.