Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Lowered by Private Management Group Inc.

Private Management Group Inc. lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,409,485 shares of the company’s stock after selling 18,450 shares during the quarter. Warner Bros. Discovery comprises 1.5% of Private Management Group Inc.’s investment portfolio, making the stock its 10th biggest holding. Private Management Group Inc. owned about 0.14% of Warner Bros. Discovery worth $38,800,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WBD. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $25,000. Peoples Bank KS purchased a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $27,000. Pacifica Partners Inc. grew its stake in Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after buying an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Finally, Headinvest LLC purchased a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded down $0.03 during mid-day trading on Tuesday, hitting $8.44. 25,124,931 shares of the company were exchanged, compared to its average volume of 26,574,645. The company has a market capitalization of $20.59 billion, a P/E ratio of -6.59 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The business’s 50 day simple moving average is $8.74 and its two-hundred day simple moving average is $10.03.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WBD. JPMorgan Chase & Co. lowered their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, January 11th. Barrington Research lowered their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. Macquarie lowered their target price 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, Morgan Stanley reduced their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. One equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.