Boyar Asset Management Inc., a prominent investment firm, has decreased its ownership in Warner Bros. Discovery (WBD) by 16.9% during the fourth quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The company sold 20,072 shares, leaving them with 99,038 shares valued at $939,000 at the end of the quarter.
Boyar Asset Management is not the only hedge fund making changes to its position in Warner Bros. Discovery. JCIC Asset Management Inc., Peoples Financial Services CORP., Guardian Wealth Advisors LLC, CVA Family Office LLC, and Lee Financial Co have also adjusted their holdings in the company. These modifications include new acquisitions of Warner Bros. Discovery shares, with stakes ranging from $25,000 to $27,000.
WBD Stock Growth
The stock price of Warner Bros. Discovery experienced a decline of 4.0% as shares were traded at $12.30 during Tuesday’s trading hours. The volume reached 6,952,222 shares, which is below the average volume of 19,838,359. The company’s 50-day moving average stood at $14.00, while the two-hundred day moving average was recorded at $12.95. Warner Bros. Discovery’s stock had a fifty-two week low of $8.82 and a high of $18.76. With a current ratio of 0.84 and a quick ratio of 0.93, the company maintains a debt-to-equity ratio of 0.96. Its market capitalization stands at $29.89 billion, and it has a price-to-earnings ratio of -3.42, a price-to-earnings-to-growth ratio of 1.98, and a beta of 1.47.
In its most recent earnings report on February 23rd, Warner Bros. Discovery announced earnings per share (EPS) of $0.42 for the quarter, surpassing analysts’ consensus estimates of ($0.03) by $0.45. The company achieved a positive return on equity of 3.24% despite a negative net margin of 21.51%. However, the company’s revenue for the quarter, totaling $11.01 billion, fell slightly short of analysts’ expectations of $11.03 billion. Analysts, on average, predict that Warner Bros. Discovery, Inc. will post an EPS of 1.09 for the current fiscal year.
WBD Stock Analysis & Forecast
According to a stock forecast conducted by 13 analysts, the average target price for Warner Bros Discovery Inc over the next 12 months is estimated to be USD 18.28. The analysts have given Warner Bros Discovery Inc an average rating of Strong Buy. Stock Target Advisor has also analyzed the stock and considers it Slightly Bullish, based on 7 positive signals and 5 negative signals. As of the last closing, Warner Bros Discovery Inc’s stock price stood at USD 12.15. Over the past week, the stock price has experienced a decrease of -9.40%, while over the past month and last year, it has declined by -11.83% and -29.40% respectively.