Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,428,889 shares of the company’s stock after selling 207,927 shares during the quarter. Warner Bros. Discovery comprises about 1.5% of New South Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. New South Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $36,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of WBD. Robeco Institutional Asset Management B.V. lifted its position in Warner Bros. Discovery by 26.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,826,492 shares of the company’s stock valued at $23,319,000 after buying an additional 586,198 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Warner Bros. Discovery by 5.5% in the third quarter. Asset Management One Co. Ltd. now owns 919,611 shares of the company’s stock valued at $7,587,000 after buying an additional 47,542 shares during the last quarter. 1834 Investment Advisors Co. lifted its position in Warner Bros. Discovery by 5.5% in the third quarter. 1834 Investment Advisors Co. now owns 39,890 shares of the company’s stock valued at $329,000 after buying an additional 2,066 shares during the last quarter. M&G PLC lifted its position in Warner Bros. Discovery by 84.5% in the third quarter. M&G PLC now owns 1,132,579 shares of the company’s stock valued at $9,061,000 after buying an additional 518,750 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $11.43 on Thursday. The firm has a market capitalization of $28.04 billion, a P/E ratio of -2.50, a P/E/G ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. 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’s 50 day moving average is $10.36 and its two-hundred day moving average is $9.34.

Warner Bros. Discovery (NASDAQ:WBD) last announced its 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 business had revenue of $10.03 billion for 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%. Research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on WBD shares. KeyCorp increased their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Citigroup increased their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday. Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Raymond James increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Guggenheim increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.91.

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.