Blueshift Asset Management LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Blueshift Asset Management LLC lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 38.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 43,719 shares of the company’s stock after selling 27,520 shares during the quarter. Blueshift Asset Management LLC’s holdings in Warner Bros. Discovery were worth $462,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. OneDigital Investment Advisors LLC grew its holdings in Warner Bros. Discovery by 40.5% in the third quarter. OneDigital Investment Advisors LLC now owns 63,850 shares of the company’s stock worth $527,000 after purchasing an additional 18,404 shares during the period. Empowered Funds LLC grew its holdings in Warner Bros. Discovery by 5.2% in the third quarter. Empowered Funds LLC now owns 58,354 shares of the company’s stock worth $481,000 after purchasing an additional 2,901 shares during the period. Natixis Advisors LLC grew its holdings in Warner Bros. Discovery by 22.7% in the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after purchasing an additional 52,051 shares during the period. Quest Partners LLC lifted its stake in shares of Warner Bros. Discovery by 173.7% in the third quarter. Quest Partners LLC now owns 44,284 shares of the company’s stock worth $365,000 after buying an additional 28,104 shares in the last quarter. Finally, Pathstone Holdings LLC lifted its stake in shares of Warner Bros. Discovery by 11.6% in the third quarter. Pathstone Holdings LLC now owns 171,331 shares of the company’s stock worth $1,413,000 after buying an additional 17,869 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 2.5 %

Shares of WBD stock opened at $10.65 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a market cap of $26.14 billion, a P/E ratio of -2.33, a P/E/G ratio of 8.64 and a beta of 1.48. 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 company has a 50 day simple moving average of $10.38 and a two-hundred day simple moving average of $9.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data 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 firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Ratings Changes

WBD has been the topic of several analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Finally, KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Transactions at Warner Bros. Discovery

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

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.