Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,387 shares of the company’s stock after selling 1,966 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

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

Warner Bros. Discovery Trading Up 0.2%

NASDAQ WBD opened at $9.16 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of -2.00, a PEG ratio of 8.64 and a beta of 1.46. The firm’s 50 day moving average price is $9.18 and its two-hundred day moving average price is $9.90.

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

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

WBD has been the topic of a number of recent analyst reports. Raymond James cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, April 4th. Citigroup boosted their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Friday, May 9th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.22.

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.