Pictet Asset Management Holding SA Sells 57,434 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pictet Asset Management Holding SA trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 982,722 shares of the company’s stock after selling 57,434 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Warner Bros. Discovery were worth $10,387,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its holdings in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the last quarter. Graney & King LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $28,000. Ethos Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $29,000. Finally, Briaud Financial Planning Inc boosted its holdings in shares of Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $10.56 on Thursday. 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 company has a market capitalization of $25.92 billion, a price-to-earnings ratio of -2.31, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company’s 50-day moving average is $10.56 and its 200 day moving average is $9.76.

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

Wall Street Analyst Weigh In

WBD has been the topic of a number of research analyst reports. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Benchmark reissued a “buy” rating and set a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. KeyCorp upped their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target 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.