Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,849,580 shares of the company’s stock after selling 23,958 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Warner Bros. Discovery were worth $55,188,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WBD. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $25,000. Peoples Bank KS purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $27,000. Pacifica Partners Inc. boosted its position in Warner Bros. Discovery by 118.2% in the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after buying an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $28,000. Finally, Headinvest LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $28,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WBD shares. Morgan Stanley decreased their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Redburn Atlantic cut shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research report on Thursday, January 11th. Macquarie reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. JPMorgan Chase & Co. reduced their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Finally, Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ WBD opened at $8.31 on Friday. The firm’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $10.06. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The stock has a market capitalization of $20.27 billion, a P/E ratio of -6.49 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same quarter in the previous year, the business posted $0.42 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share 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.