Warner Bros. Discovery, Inc. $WBD Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 587,141 shares of the company’s stock after selling 203,557 shares during the period. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $6,729,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery in the first quarter valued at $26,000. Financial Gravity Companies Inc. acquired a new stake in shares of Warner Bros. Discovery in the 2nd quarter valued at about $29,000. Trifecta Capital Advisors LLC purchased a new position in Warner Bros. Discovery during the 2nd quarter worth approximately $34,000. Zions Bancorporation National Association UT acquired a new position in Warner Bros. Discovery during the first quarter worth approximately $42,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Warner Bros. Discovery in the second quarter valued at approximately $44,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $24.54 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $24.75. The company has a 50-day moving average price of $21.25 and a 200 day moving average price of $15.36. The company has a market cap of $60.81 billion, a P/E ratio of 129.16, a PEG ratio of 1.00 and a beta of 1.60. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The business had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Bruce Campbell sold 289,322 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $16.48, for a total transaction of $4,768,026.56. Following the transaction, the insider directly owned 402,464 shares of the company’s stock, valued at $6,632,606.72. This represents a 41.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lori C. Locke sold 5,000 shares of the stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $23.83, for a total transaction of $119,150.00. Following the completion of the transaction, the chief accounting officer owned 140,084 shares of the company’s stock, valued at $3,338,201.72. This represents a 3.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,202,325 shares of company stock worth $23,053,615. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WBD has been the topic of a number of research reports. Arete raised their target price on shares of Warner Bros. Discovery from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Barclays set a $20.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, October 8th. Benchmark raised their price target on Warner Bros. Discovery from $18.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

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.