Tredje AP fonden Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Tredje AP fonden lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 50.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,318 shares of the company’s stock after selling 164,317 shares during the quarter. Tredje AP fonden’s holdings in Warner Bros. Discovery were worth $1,737,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Atria Investments Inc raised its position in Warner Bros. Discovery by 31.9% in the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company’s stock valued at $809,000 after purchasing an additional 23,697 shares during the last quarter. Versor Investments LP purchased a new stake in Warner Bros. Discovery in the 3rd quarter valued at $93,000. Apollon Wealth Management LLC raised its position in Warner Bros. Discovery by 96.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 53,719 shares of the company’s stock valued at $443,000 after purchasing an additional 26,421 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Warner Bros. Discovery by 2.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,609,542 shares of the company’s stock valued at $38,029,000 after purchasing an additional 106,372 shares during the last quarter. Finally, KBC Group NV raised its position in Warner Bros. Discovery by 4.8% in the 3rd quarter. KBC Group NV now owns 899,351 shares of the company’s stock valued at $7,420,000 after purchasing an additional 40,862 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

WBD has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Guggenheim upped their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, Barclays upped their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.91.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $10.19 on Friday. The stock has a market cap of $25.01 billion, a price-to-earnings ratio of -2.22, a PEG ratio of 8.64 and a beta of 1.48. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company’s 50-day moving average price is $10.37 and its 200 day moving average price is $9.45. 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 (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, 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 other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

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.