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

Snowden Capital Advisors LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WBD. Coronation Fund Managers Ltd. raised its position in Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after buying an additional 1,981,050 shares during the period. Prudential PLC raised its position in Warner Bros. Discovery by 31.1% during the fourth quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after buying an additional 32,102 shares during the period. SVB Wealth LLC acquired a new position in Warner Bros. Discovery during the fourth quarter valued at $168,000. Natixis Advisors LLC raised its position in Warner Bros. Discovery by 3.6% during the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock valued at $3,076,000 after buying an additional 10,024 shares during the period. Finally, Norges Bank acquired a new position in Warner Bros. Discovery during the fourth quarter valued at $362,210,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of WBD traded down $0.02 during mid-day trading on Friday, reaching $9.00. The company had a trading volume of 21,960,345 shares, compared to its average volume of 33,291,660. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month 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's 50-day moving average is $9.06 and its 200-day moving average is $9.93. The company has a market capitalization of $22.09 billion, a P/E ratio of -1.97, a P/E/G ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the prior year, the business earned ($0.40) earnings per share. The company's revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WBD. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Wells Fargo & Company upped their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. KeyCorp decreased their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Citigroup upped their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Finally, Barclays upped their price target on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.22.

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.