Handelsbanken Fonder AB Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Handelsbanken Fonder AB lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 551,186 shares of the company's stock after selling 38,298 shares during the period. Handelsbanken Fonder AB's holdings in Warner Bros. Discovery were worth $5,914,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. Vanguard Group Inc. boosted its position in Warner Bros. Discovery by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock valued at $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after purchasing an additional 1,991,441 shares during the last quarter. Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $362,210,000. Slate Path Capital LP boosted its stake in shares of Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after buying an additional 6,381,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Warner Bros. Discovery by 7.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock valued at $249,545,000 after purchasing an additional 1,725,775 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. KeyCorp decreased their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Raymond James dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, April 4th. Barrington Research restated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Monday. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Finally, Barclays boosted their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.17.

Warner Bros. Discovery Stock Down 1.3%

Shares of WBD traded down $0.13 during midday trading on Friday, reaching $10.03. The stock had a trading volume of 39,377,883 shares, compared to its average volume of 34,653,494. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $24.62 billion, a price-to-earnings ratio of -2.19, a PEG ratio of 8.64 and a beta of 1.51. The company's fifty day simple moving average is $8.95 and its two-hundred day simple moving average is $9.94.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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 company had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. During the same quarter in the prior year, the firm posted ($0.40) EPS. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.