Metis Global Partners LLC Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Metis Global Partners LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 95,130 shares of the company’s stock after selling 4,396 shares during the quarter. Metis Global Partners LLC’s holdings in Warner Bros. Discovery were worth $1,083,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortis Group Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter valued at about $25,000. Pacifica Partners Inc. lifted its holdings in Warner Bros. Discovery by 118.2% during the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after purchasing an additional 1,345 shares during the last quarter. Peoples Bank KS purchased a new stake in Warner Bros. Discovery during the third quarter valued at about $27,000. Milestone Investment Advisors LLC purchased a new stake in Warner Bros. Discovery during the third quarter valued at about $28,000. Finally, Headinvest LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $28,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WBD shares. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Barrington Research reduced their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Citigroup reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Finally, Macquarie reduced their price target on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.83.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $7.80 on Thursday. The stock has a fifty day moving average of $8.40 and a 200 day moving average of $9.82. Warner Bros. Discovery, Inc. has a 52 week low of $7.34 and a 52 week high of $14.76. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of -6.09 and a beta of 1.51. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period in the previous year, the business earned $0.42 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

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.