Snowden Capital Advisors LLC Sells 33,133 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Snowden Capital Advisors LLC reduced its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,193 shares of the company's stock after selling 33,133 shares during the period. Snowden Capital Advisors LLC's holdings in Warner Bros. Discovery were worth $742,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. HB Wealth Management LLC grew its holdings in shares of Warner Bros. Discovery by 5.3% during the fourth quarter. HB Wealth Management LLC now owns 240,550 shares of the company's stock valued at $2,543,000 after buying an additional 12,154 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Warner Bros. Discovery by 2,914.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 113,723 shares of the company's stock worth $1,202,000 after buying an additional 109,950 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $33,000. Mirabaud & Cie SA raised its position in shares of Warner Bros. Discovery by 29.1% during the 4th quarter. Mirabaud & Cie SA now owns 30,000 shares of the company's stock valued at $317,000 after purchasing an additional 6,756 shares during the period. Finally, Simon Quick Advisors LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at about $137,000. 59.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery 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 bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WBD has been the topic of several research analyst reports. KeyCorp lowered their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Barclays lifted their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, 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. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $12.22.

Warner Bros. Discovery Trading Down 1.2%

WBD stock opened at $9.05 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The firm's 50-day moving average is $9.15 and its 200 day moving average is $9.91. The company has a market capitalization of $22.22 billion, a PE ratio of -1.98, a P/E/G ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the prior year, the company earned ($0.40) earnings per share. Warner Bros. Discovery's revenue was down 9.8% on a year-over-year basis. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.

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