Two Sigma Advisers LP Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Two Sigma Advisers LP lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 693,526 shares of the company's stock after selling 340,800 shares during the period. Two Sigma Advisers LP's holdings in Warner Bros. Discovery were worth $7,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WBD. Colonial Trust Advisors lifted its holdings in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after buying an additional 1,940 shares in the last quarter. Graney & King LLC bought a new position in Warner Bros. Discovery in the 4th quarter worth approximately $28,000. Finally, Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery in the 4th quarter valued at approximately $29,000. Institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their target price on Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Citigroup increased their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday, May 13th. Benchmark reiterated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.22.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.55 during mid-day trading on Tuesday, reaching $9.55. 31,685,496 shares of the company were exchanged, compared to its average volume of 33,285,382. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company's 50 day moving average price is $9.02 and its 200 day moving average price is $9.93. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock has a market capitalization of $23.44 billion, a PE ratio of -2.09, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $9.66 billion. During the same period in the prior year, the business posted ($0.40) EPS. Warner Bros. Discovery's revenue for the quarter was down 9.8% on a year-over-year basis. Sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.90% of the company's stock.

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.