Argyle Capital Management LLC Has $108,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Argyle Capital Management LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,235 shares of the company’s stock after selling 1,202 shares during the period. Argyle Capital Management LLC’s holdings in Warner Bros. Discovery were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WBD. Principal Financial Group Inc. increased its position in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after buying an additional 78,653 shares during the period. Hauser Brothers GmbH grew its stake in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after acquiring an additional 440,000 shares during the last quarter. Private Management Group Inc. increased its position in Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after acquiring an additional 1,886,868 shares during the period. Erste Asset Management GmbH acquired a new position in Warner Bros. Discovery during the 3rd quarter valued at $1,474,000. Finally, Blueshift Asset Management LLC bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at $588,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $11.00 on Friday. The stock has a market capitalization of $26.98 billion, a P/E ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a 50 day moving average of $10.31 and a 200-day moving average of $9.20.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WBD. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday. Raymond James upped their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Rosenblatt Securities raised their price objective on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. 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 research report on Tuesday, January 14th. Finally, Barclays raised their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate insiders.

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.