Baird Financial Group Inc. Sells 36,513 Shares of Warner Bros. Discovery, Inc. $WBD

Baird Financial Group Inc. trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 25.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,388 shares of the company's stock after selling 36,513 shares during the quarter. Baird Financial Group Inc.'s holdings in Warner Bros. Discovery were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC grew its position in Warner Bros. Discovery by 9.7% during the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock worth $160,000 after buying an additional 1,318 shares in the last quarter. CX Institutional boosted its holdings in Warner Bros. Discovery by 5.7% during the first quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after purchasing an additional 1,465 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in Warner Bros. Discovery by 9.0% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock valued at $202,000 after purchasing an additional 1,561 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Warner Bros. Discovery by 2.6% during the first quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company's stock valued at $676,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Warner Bros. Discovery by 8.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 19,756 shares of the company's stock valued at $212,000 after purchasing an additional 1,618 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research analyst reports. Raymond James Financial cut their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wells Fargo & Company lifted their target price on shares of Warner Bros. Discovery from $11.00 to $13.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Guggenheim reiterated a "buy" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, July 30th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.14.

Warner Bros. Discovery Trading Up 2.3%

Shares of Warner Bros. Discovery stock traded up $0.28 on Wednesday, hitting $12.54. 59,340,696 shares of the company's stock traded hands, compared to its average volume of 46,493,376. The firm's 50-day moving average price is $12.14 and its two-hundred day moving average price is $10.57. The stock has a market capitalization of $31.05 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 1.63 and a beta of 1.59. Warner Bros. Discovery, Inc. has a one year low of $6.78 and a one year high of $13.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.73 billion. During the same quarter in the previous year, the company posted ($4.07) EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity

In other news, Director Anton J. Levy purchased 250,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $10.90 per share, with a total value of $2,725,000.00. Following the acquisition, the director directly owned 874,000 shares of the company's stock, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by company 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.