Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by West Tower Group LLC

West Tower Group LLC decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,745 shares of the company’s stock after selling 89,876 shares during the quarter. Warner Bros. Discovery comprises about 6.0% of West Tower Group LLC’s portfolio, making the stock its 2nd biggest position. West Tower Group LLC’s holdings in Warner Bros. Discovery were worth $2,703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares during the period. Amundi lifted its position in Warner Bros. Discovery by 108.1% during the 4th quarter. Amundi now owns 10,151,114 shares of the company’s stock worth $102,120,000 after acquiring an additional 5,272,717 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new stake in Warner Bros. Discovery during the 4th quarter worth about $23,825,000. Finally, LBP AM SA acquired a new stake in Warner Bros. Discovery during the 4th quarter worth about $21,032,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WBD shares. JPMorgan Chase & Co. boosted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Guggenheim boosted their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Bank of America reissued a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Benchmark reissued a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $10.39 on Wednesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a 50 day moving average of $10.35 and a two-hundred day moving average of $9.53. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $25.50 billion, a P/E ratio of -2.27, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.