Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Private Management Group Inc.

Private Management Group Inc. trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,409,485 shares of the company’s stock after selling 18,450 shares during the quarter. Warner Bros. Discovery comprises approximately 1.5% of Private Management Group Inc.’s investment portfolio, making the stock its 10th biggest holding. Private Management Group Inc.’s holdings in Warner Bros. Discovery were worth $38,800,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WBD. GAMMA Investing LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $145,000. Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Warner Bros. Discovery by 2.5% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 222,527 shares of the company’s stock worth $2,532,000 after acquiring an additional 5,493 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of Warner Bros. Discovery by 34.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 204,356 shares of the company’s stock worth $2,326,000 after acquiring an additional 52,632 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of 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 acquiring an additional 1,769 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $194,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 0.4 %

Shares of NASDAQ:WBD traded down $0.03 during midday trading on Tuesday, hitting $8.44. 25,124,931 shares of the stock were exchanged, compared to its average volume of 26,574,645. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The business’s fifty day simple moving average is $8.74 and its two-hundred day simple moving average is $10.03. The company has a market capitalization of $20.59 billion, a PE ratio of -6.59 and a beta of 1.51.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WBD. Barclays reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. reduced their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Redburn Atlantic lowered Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Thursday, January 11th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.83.

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.