Poplar Forest Capital LLC Sells 366,626 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Poplar Forest Capital LLC lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 936,015 shares of the company’s stock after selling 366,626 shares during the period. Warner Bros. Discovery comprises 1.6% of Poplar Forest Capital LLC’s holdings, making the stock its 27th largest position. Poplar Forest Capital LLC’s holdings in Warner Bros. Discovery were worth $10,652,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its holdings in shares of Warner Bros. Discovery by 15.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock valued at $4,442,000 after acquiring an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Warner Bros. Discovery by 39.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock valued at $4,594,000 after acquiring an additional 120,586 shares in the last quarter. New South Capital Management Inc. grew its holdings in shares of Warner Bros. Discovery by 21.1% in the 3rd quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock valued at $44,334,000 after acquiring an additional 711,820 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Warner Bros. Discovery by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after acquiring an additional 36,405 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $105,000. Institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Thursday, January 11th. Barclays cut their target price on shares of 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. Morgan Stanley cut their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, February 26th. Finally, Benchmark reiterated a “buy” rating and issued a $20.00 target price on shares of Warner Bros. Discovery in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and an average price target of $13.83.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded down $0.06 during midday trading on Wednesday, reaching $8.38. 20,308,919 shares of the company were exchanged, compared to its average volume of 26,495,594. The stock’s 50-day moving average price is $8.72 and its 200-day moving average price is $10.02. The stock has a market cap of $20.44 billion, a P/E ratio of -6.52 and a beta of 1.51. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76. 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 posted its 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 company had revenue of $10.28 billion for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. On average, sell-side analysts anticipate 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.