Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Pacific Center for Financial Services

Pacific Center for Financial Services lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,450 shares of the company’s stock after selling 2,652 shares during the quarter. Pacific Center for Financial Services’ holdings in Warner Bros. Discovery were worth $108,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $198,916,000. Invesco Ltd. raised its position in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings 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 valued at $17,898,000 after purchasing an additional 1,524,370 shares in the last quarter. Finally, ING Groep NV increased its stake in Warner Bros. Discovery by 3,010.0% during the 4th quarter. ING Groep NV now owns 1,538,503 shares of the company’s stock worth $17,508,000 after buying an additional 1,489,034 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Down 0.7 %

Shares of Warner Bros. Discovery stock traded down $0.05 during trading hours on Friday, reaching $7.24. 22,850,072 shares of the company’s stock were exchanged, compared to its average volume of 28,015,215. Warner Bros. Discovery, Inc. has a 52-week low of $7.21 and a 52-week high of $14.76. The company has a fifty day moving average of $8.12 and a 200-day moving average of $9.40. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of -5.84 and a beta of 1.53.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The company had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -0.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on WBD. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. KeyCorp upgraded Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 target price on the stock in a research report on Friday, May 10th. Benchmark restated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Morgan Stanley reduced their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Finally, Sanford C. Bernstein lowered their target price on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.16.

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.