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

Two Sigma Advisers LP cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.9% during the fourth quarter, according to its most recent Form 13F 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 quarter. Two Sigma Advisers LP's holdings in Warner Bros. Discovery were worth $7,331,000 as of its most recent SEC filing.

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

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.24 during midday trading on Thursday, reaching $9.79. The company had a trading volume of 16,961,041 shares, compared to its average volume of 33,347,600. The stock has a market cap of $24.02 billion, a P/E ratio of -2.13, a P/E/G ratio of 8.64 and a beta of 1.46. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company's 50 day moving average price is $8.98 and its 200 day moving average price is $9.92.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The company had revenue of $8.98 billion for the quarter, compared to analysts' expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business's revenue for the quarter was down 9.8% on a year-over-year basis. During the same period last year, the company posted ($0.40) EPS. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Argus upgraded shares of Warner Bros. Discovery to a "hold" rating in a research note on Tuesday. Raymond James lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Wells Fargo & Company lifted 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 research report on Friday, May 9th. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Finally, Benchmark reissued a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Eleven 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 has a consensus rating of "Moderate Buy" and an average price target of $12.22.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.