Warner Bros. Discovery, Inc. $WBD Stake Reduced by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 58.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,388,632 shares of the company’s stock after selling 13,400,215 shares during the quarter. Pacer Advisors Inc. owned 0.38% of Warner Bros. Discovery worth $270,580,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after buying an additional 51,920 shares during the period. NewEdge Advisors LLC lifted its position in Warner Bros. Discovery by 50.5% in the 1st quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after buying an additional 21,228 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after acquiring an additional 3,779 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Warner Bros. Discovery by 91.6% during the 1st quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after purchasing an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in Warner Bros. Discovery by 3.8% during the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after acquiring an additional 4,062 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 0.2%

Shares of NASDAQ:WBD opened at $26.20 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. The firm has a market cap of $65.69 billion, a P/E ratio of -37.43 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $10.27 and a 12 month high of $30.00. The company’s 50-day moving average price is $27.05 and its two-hundred day moving average price is $27.64.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.18) earnings per share. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Sanford C. Bernstein upped their target price on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research note on Tuesday, February 24th. Benchmark reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. UBS Group raised their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $27.04.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.