Clear Harbor Asset Management LLC Has $455,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Clear Harbor Asset Management LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 20.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,193 shares of the company’s stock after selling 14,472 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Warner Bros. Discovery were worth $455,000 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. Crewe Advisors LLC acquired a new position in shares of Warner Bros. Discovery during the first quarter worth about $27,000. Family Firm Inc. bought a new position in shares of Warner Bros. Discovery during the 2nd quarter worth approximately $26,000. OFI Invest Asset Management raised its holdings 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 purchasing an additional 1,221 shares during the last quarter. Transcendent Capital Group LLC lifted its position 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 worth $35,000 after purchasing an additional 3,480 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Warner Bros. Discovery during the first quarter worth $39,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on WBD. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Friday, September 13th. Macquarie dropped their target price on Warner Bros. Discovery from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Morgan Stanley decreased their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, July 29th. TD Cowen lowered their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI cut their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $10.66.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $7.60 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $18.62 billion, a price-to-earnings ratio of -6.13 and a beta of 1.48. The stock’s fifty day moving average price is $7.82 and its two-hundred day moving average price is $7.83. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($4.07) EPS for the quarter, missing the consensus estimate of ($0.18) by ($3.89). Warner Bros. Discovery had a negative net margin of 29.47% and a negative return on equity of 27.28%. The business had revenue of $9.71 billion during the quarter, compared to analyst estimates of $10.07 billion. During the same quarter last year, the company posted ($0.51) earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.47 EPS for the current year.

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.