Thrivent Financial for Lutherans Sells 165,623 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Thrivent Financial for Lutherans decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,581,662 shares of the company’s stock after selling 165,623 shares during the period. Thrivent Financial for Lutherans’ holdings in Warner Bros. Discovery were worth $48,413,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. TCTC Holdings LLC raised its stake in shares of Warner Bros. Discovery by 18.1% in the 4th quarter. TCTC Holdings LLC now owns 8,156 shares of the company’s stock valued at $86,000 after buying an additional 1,250 shares in the last quarter. Signaturefd LLC increased its position in shares of Warner Bros. Discovery by 23.0% during the 4th quarter. Signaturefd LLC now owns 26,569 shares of the company’s stock worth $281,000 after purchasing an additional 4,965 shares in the last quarter. Cibc World Markets Corp increased its position in shares of Warner Bros. Discovery by 2.2% during the 4th quarter. Cibc World Markets Corp now owns 1,866,446 shares of the company’s stock worth $19,728,000 after purchasing an additional 39,592 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Warner Bros. Discovery by 150.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 5,663 shares of the company’s stock worth $60,000 after purchasing an additional 3,400 shares in the last quarter. Finally, GWN Securities Inc. acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $147,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Up 5.1 %

Shares of NASDAQ WBD opened at $10.92 on Thursday. The firm has a market capitalization of $26.81 billion, a PE ratio of -2.38, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. 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 1 year low of $6.64 and a 1 year high of $12.70. The firm’s 50-day moving average is $10.35 and its 200-day moving average is $9.53.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WBD. The Goldman Sachs Group increased their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Insider Buying and Selling

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were purchased 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 of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery 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.