Russell Investments Group Ltd. Sells 452,996 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Russell Investments Group Ltd. lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 49.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 458,509 shares of the company’s stock after selling 452,996 shares during the quarter. Russell Investments Group Ltd.’s holdings in Warner Bros. Discovery were worth $5,223,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Forum Financial Management LP boosted its position in shares of Warner Bros. Discovery by 2.3% during the 3rd quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after acquiring an additional 948 shares during the last quarter. Bridgeworth LLC raised its holdings in shares of Warner Bros. Discovery by 7.4% during 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 in the last quarter. Czech National Bank raised its holdings in shares of Warner Bros. Discovery by 0.3% during 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 in the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 1.8% during the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after buying an additional 1,025 shares in the last quarter. Finally, Column Capital Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 26.7% during the 3rd quarter. Column Capital Advisors LLC now owns 5,049 shares of the company’s stock valued at $55,000 after buying an additional 1,063 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 3.1 %

NASDAQ WBD opened at $8.04 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The stock’s 50 day moving average is $8.39 and its 200 day moving average is $9.80. Warner Bros. Discovery, Inc. has a twelve month low of $7.34 and a twelve month high of $14.76. The firm has a market capitalization of $19.62 billion, a PE ratio of -6.28 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last released its 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 return on equity of 3.48% and a negative net margin of 7.57%. The company had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period last year, the firm posted $0.42 earnings per share. The company’s revenue was down 6.6% compared to the same quarter last year. Research analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective on the stock. in a report on Thursday, January 11th. Morgan Stanley decreased their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Macquarie decreased their price target on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Finally, Wolfe Research cut 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 note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.83.

Warner Bros. Discovery Company 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.