Bessemer Group Inc. Sells 1,800 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bessemer Group Inc. lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,247 shares of the company’s stock after selling 1,800 shares during the period. Bessemer Group Inc.’s holdings in Warner Bros. Discovery were worth $121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Spire Wealth Management raised its stake in shares of Warner Bros. Discovery by 243.5% during the 1st quarter. Spire Wealth Management now owns 92,143 shares of the company’s stock worth $989,000 after purchasing an additional 65,320 shares in the last quarter. Hi Line Capital Management LLC raised its stake in shares of Warner Bros. Discovery by 17.8% during the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company’s stock worth $6,411,000 after purchasing an additional 90,462 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its stake in shares of Warner Bros. Discovery by 0.3% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 1,176,711 shares of the company’s stock worth $12,626,000 after purchasing an additional 3,943 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Warner Bros. Discovery by 8.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 1,006,946 shares of the company’s stock worth $10,805,000 after purchasing an additional 79,919 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Warner Bros. Discovery by 6.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 69,156 shares of the company’s stock worth $742,000 after purchasing an additional 4,447 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Raymond James Financial dropped their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Rosenblatt Securities reissued a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Monday, June 9th. Barclays boosted their target price on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Finally, Argus raised Warner Bros. Discovery to a “hold” rating in a report on Tuesday, May 27th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $12.33.

Warner Bros. Discovery Stock Performance

WBD opened at $11.21 on Friday. The firm has a market cap of $27.51 billion, a P/E ratio of -2.55 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.84 and a current ratio of 0.84. The business’s fifty day moving average is $9.74 and its 200-day moving average is $9.94.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company posted ($0.40) earnings per share. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal 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.