First Manhattan CO. LLC. Decreases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Manhattan CO. LLC. lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 144,266 shares of the company’s stock after selling 43,220 shares during the quarter. First Manhattan CO. LLC.’s holdings in Warner Bros. Discovery were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Colonial Trust Advisors increased its stake in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $26,000. SRS Capital Advisors Inc. grew its position in shares of Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at $28,000. Finally, Ethos Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth about $29,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 0.3 %

NASDAQ WBD opened at $9.04 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The stock has a market cap of $22.19 billion, a P/E ratio of -1.97, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The stock has a 50 day simple moving average of $9.35 and a two-hundred day simple moving average of $9.84.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) earnings per share. On average, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WBD shares. Morgan Stanley decreased their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. KeyCorp lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $12.22.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

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.