Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,706,175 shares of the company’s stock after selling 42,899 shares during the quarter. Warner Bros. Discovery makes up 1.0% of Clarkston Capital Partners LLC’s holdings, making the stock its 26th biggest position. Clarkston Capital Partners LLC’s holdings in Warner Bros. Discovery were worth $49,744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WBD. Norges Bank purchased a new position in Warner Bros. Discovery in the 4th quarter valued at about $362,210,000. Contrarius Group Holdings Ltd acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $168,930,000. State Street Corp raised its holdings in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Amundi lifted its position in shares of Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after acquiring an additional 5,272,717 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $23,825,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Stock Down 11.9 %

Warner Bros. Discovery stock opened at $8.07 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50 day moving average price of $10.50 and a 200 day moving average price of $9.77. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a market capitalization of $19.81 billion, a PE ratio of -1.76, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on WBD shares. KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 10th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Bank of America reiterated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.96.

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.