Greenleaf Trust Decreases Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Greenleaf Trust trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 58.5% during the fourth quarter, HoldingsChannel reports. The firm owned 18,805 shares of the company’s stock after selling 26,500 shares during the period. Greenleaf Trust’s holdings in Warner Bros. Discovery were worth $214,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its stake in Warner Bros. Discovery by 15.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after purchasing an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Warner Bros. Discovery by 39.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after purchasing an additional 120,586 shares in the last quarter. New South Capital Management Inc. lifted its stake in Warner Bros. Discovery by 21.1% in the 3rd quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock worth $44,334,000 after purchasing an additional 711,820 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Warner Bros. Discovery by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after purchasing an additional 36,405 shares in the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $105,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Morgan Stanley reduced their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Barrington Research reduced their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. 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, Wolfe Research lowered shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $8.38 on Thursday. The company has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $10.02. The company has a market cap of $20.44 billion, a price-to-earnings ratio of -6.52 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, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last posted 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). The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Warner Bros. Discovery 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.