Credit Capital Investments LLC Cuts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Credit Capital Investments LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 559,713 shares of the company’s stock after selling 53,000 shares during the quarter. Warner Bros. Discovery accounts for approximately 7.7% of Credit Capital Investments LLC’s investment portfolio, making the stock its 4th biggest holding. Credit Capital Investments LLC’s holdings in Warner Bros. Discovery were worth $5,916,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. increased its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after acquiring an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $29,000. Briaud Financial Planning Inc increased its position in shares of Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock valued at $29,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $33,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $10.39 on Wednesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock’s 50 day moving average is $10.35 and its 200-day moving average is $9.53. 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 $25.50 billion, a price-to-earnings ratio of -2.27, a PEG ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

WBD has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Citigroup boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

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.