Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 61.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 324,520 shares of the company’s stock after selling 522,031 shares during the period. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $3,693,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Warner Bros. Discovery by 0.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 200,720 shares of the company’s stock worth $2,284,000 after buying an additional 1,769 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $194,000. Lindbrook Capital LLC increased its stake in Warner Bros. Discovery by 28.5% during the 4th quarter. Lindbrook Capital LLC now owns 9,888 shares of the company’s stock worth $113,000 after buying an additional 2,196 shares during the period. abrdn plc increased its stake in Warner Bros. Discovery by 25.7% during the 4th quarter. abrdn plc now owns 1,557,678 shares of the company’s stock worth $17,726,000 after buying an additional 318,496 shares during the period. Finally, Vantage Investment Partners LLC increased its stake in Warner Bros. Discovery by 22.6% during the 4th quarter. Vantage Investment Partners LLC now owns 1,085,000 shares of the company’s stock worth $12,347,000 after buying an additional 200,000 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WBD. Citigroup cut their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective 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. Macquarie dropped their price objective 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. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price objective for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Finally, Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Trading Down 1.1 %

NASDAQ WBD opened at $8.29 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s fifty day moving average price is $8.69 and its 200 day moving average price is $10.01. The company has a market capitalization of $20.23 billion, a price-to-earnings ratio of -6.48 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12 month low of $8.02 and a 12 month high of $14.76.

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