Lee Danner & Bass Inc. Sells 7,722 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lee Danner & Bass Inc. trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 17.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,962 shares of the company’s stock after selling 7,722 shares during the period. Lee Danner & Bass Inc.’s holdings in Warner Bros. Discovery were worth $391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its stake in Warner Bros. Discovery by 13.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 15,529 shares of the company’s stock worth $164,000 after buying an additional 1,789 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in Warner Bros. Discovery in the fourth quarter worth about $168,930,000. iA Global Asset Management Inc. raised its stake in Warner Bros. Discovery by 5.8% in the fourth quarter. iA Global Asset Management Inc. now owns 264,414 shares of the company’s stock worth $2,795,000 after buying an additional 14,469 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Warner Bros. Discovery by 39.9% in the fourth quarter. Teacher Retirement System of Texas now owns 21,802 shares of the company’s stock worth $230,000 after buying an additional 6,217 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in Warner Bros. Discovery by 6.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,009,156 shares of the company’s stock worth $10,667,000 after buying an additional 59,464 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Trading Up 0.8 %

Shares of WBD stock opened at $10.74 on Friday. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. 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 firm’s 50 day moving average is $10.40 and its 200 day moving average is $9.56. The stock has a market capitalization of $26.36 billion, a P/E ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 company had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

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 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 of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WBD shares. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Barrington Research reaffirmed an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Guggenheim raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery 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.