Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,973 shares of the company’s stock after selling 2,152 shares during the period. Great Valley Advisor Group Inc.’s holdings in Warner Bros. Discovery were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WBD. Boston Partners increased its stake in Warner Bros. Discovery by 43.0% in the 3rd quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares in the last quarter. Invesco Ltd. grew its stake in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after acquiring an additional 4,016,888 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Warner Bros. Discovery by 12.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock valued at $237,007,000 after purchasing an additional 2,356,665 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in shares of Warner Bros. Discovery by 1,232.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after purchasing an additional 1,524,370 shares in the last quarter. Finally, UBS Group AG grew its position in Warner Bros. Discovery by 55.5% during the third quarter. UBS Group AG now owns 3,964,873 shares of the company’s stock valued at $43,059,000 after purchasing an additional 1,415,744 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on WBD. Barrington Research cut their target price on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a research note on Thursday, January 11th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $7.77 on Wednesday. The firm’s 50-day moving average is $8.42 and its 200-day moving average is $9.83. The company has a market cap of $18.96 billion, a price-to-earnings ratio of -6.07 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 52-week low of $7.34 and a 52-week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current 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.