Rockefeller Capital Management L.P. Decreases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rockefeller Capital Management L.P. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 913,475 shares of the company’s stock after selling 709,409 shares during the period. Rockefeller Capital Management L.P.’s holdings in Warner Bros. Discovery were worth $9,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Equity Partners grew its stake in shares of Warner Bros. Discovery by 6.5% during the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after purchasing an additional 986 shares in the last quarter. Colonial Trust Advisors boosted its position in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after acquiring an additional 996 shares in the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of Warner Bros. Discovery by 12.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after acquiring an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC raised its position in shares of Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock worth $169,000 after acquiring an additional 1,101 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in Warner Bros. Discovery by 2.8% during the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after purchasing an additional 1,174 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were bought 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 owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on WBD shares. JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Barclays cut their price target on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Citigroup upped their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.66.

Warner Bros. Discovery Trading Down 4.0 %

Shares of Warner Bros. Discovery stock opened at $7.92 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of -1.73, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company’s 50-day simple moving average is $10.08 and its 200-day simple moving average is $9.74.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.