PNC Financial Services Group Inc. Lowers Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

PNC Financial Services Group Inc. lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 496,858 shares of the company’s stock after selling 18,219 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Warner Bros. Discovery were worth $5,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares in the last quarter. Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $33,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WBD shares. The Goldman Sachs Group lifted their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Stock Up 0.5 %

Shares of Warner Bros. Discovery stock opened at $10.42 on Thursday. The company has a fifty day moving average price of $10.39 and a 200 day moving average price of $9.44. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of -2.28, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Savalle Sims sold 169,436 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

About Warner Bros. Discovery

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.