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

Poplar Forest Capital LLC cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 28.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 936,015 shares of the company’s stock after selling 366,626 shares during the period. Warner Bros. Discovery accounts for 1.6% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 27th largest holding. Poplar Forest Capital LLC’s holdings in Warner Bros. Discovery were worth $10,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WBD. Park Place Capital Corp boosted its holdings in Warner Bros. Discovery by 33.4% in the 3rd quarter. Park Place Capital Corp now owns 3,677 shares of the company’s stock valued at $40,000 after purchasing an additional 921 shares during the period. Forum Financial Management LP boosted its holdings in Warner Bros. Discovery by 2.3% in the 3rd quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after purchasing an additional 948 shares during the period. Bridgeworth LLC boosted its holdings in Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after purchasing an additional 952 shares during the period. Czech National Bank boosted its holdings in Warner Bros. Discovery by 0.3% in the 4th quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after purchasing an additional 996 shares during the period. Finally, Harbour Capital Advisors LLC boosted its holdings in Warner Bros. Discovery by 1.8% in the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock valued at $642,000 after purchasing an additional 1,025 shares during the period. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented 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 price target for the company. in a report on Tuesday. Barclays lowered their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and raised their price objective for the company from $7.00 to $10.00 in a research report on Thursday, March 21st. Barrington Research lowered their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Finally, Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $16.00 to $12.00 in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.83.

Warner Bros. Discovery Trading Down 0.7 %

Shares of WBD stock traded down $0.06 during mid-day trading on Wednesday, reaching $8.38. The stock had a trading volume of 20,308,919 shares, compared to its average volume of 26,495,594. The stock’s 50-day moving average price is $8.72 and its two-hundred day moving average price is $10.02. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The firm has a market capitalization of $20.44 billion, a PE ratio of -6.52 and a beta of 1.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. Warner Bros. Discovery’s revenue was down 6.6% compared to the same quarter last year. Equities analysts expect that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.