Credit Capital Investments LLC Sells 59,000 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Credit Capital Investments LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,713 shares of the company’s stock after selling 59,000 shares during the period. Warner Bros. Discovery comprises approximately 6.0% of Credit Capital Investments LLC’s investment portfolio, making the stock its 6th largest position. Credit Capital Investments LLC’s holdings in Warner Bros. Discovery were worth $4,298,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WBD. Bridgeworth LLC raised its holdings in Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after buying an additional 952 shares during the last quarter. Czech National Bank raised its holdings in Warner Bros. Discovery by 0.3% in the 4th quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after buying an additional 996 shares during the last quarter. Harbour Capital Advisors LLC raised its holdings in Warner Bros. Discovery by 1.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after purchasing an additional 1,025 shares during the last quarter. Blue Trust Inc. raised its holdings in Warner Bros. Discovery by 20.8% during the 4th quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock worth $68,000 after purchasing an additional 1,076 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its holdings in 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 purchasing an additional 1,105 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Morgan Stanley lowered 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 report on Monday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Sanford C. Bernstein lowered their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Rosenblatt Securities upgraded 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 report on Thursday, March 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.16.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD traded down $0.08 during mid-day trading on Tuesday, reaching $8.04. 20,685,263 shares of the company’s stock were exchanged, compared to its average volume of 27,870,361. Warner Bros. Discovery, Inc. has a 52 week low of $7.34 and a 52 week high of $14.76. The firm has a 50-day moving average price of $8.17 and a two-hundred day moving average price of $9.45. The firm has a market capitalization of $19.70 billion, a price-to-earnings ratio of -6.48 and a beta of 1.53. 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 (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was down 6.9% on a year-over-year basis. Analysts predict that Warner Bros. Discovery, Inc. will post -0.38 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.