Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 32.9% during the 4th 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 quarter. Two Sigma Advisers LP's holdings in Warner Bros. Discovery were worth $7,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Simon Quick Advisors LLC bought a new stake in Warner Bros. Discovery during the fourth quarter valued at about $137,000. Nisa Investment Advisors LLC lifted its position in shares of Warner Bros. Discovery by 8.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 159,767 shares of the company's stock valued at $1,689,000 after buying an additional 12,910 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Warner Bros. Discovery by 304.9% during the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock valued at $729,000 after acquiring an additional 51,920 shares during the period. Cornerstone Wealth Management LLC increased its holdings in Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock worth $169,000 after acquiring an additional 1,101 shares in the last quarter. Finally, CX Institutional increased its holdings in Warner Bros. Discovery by 16.6% in the 4th quarter. CX Institutional now owns 25,859 shares of the company's stock worth $273,000 after acquiring an additional 3,690 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WBD shares. Citigroup upped their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. KeyCorp dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company increased their target price on 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. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $12.22.

Warner Bros. Discovery Price Performance

WBD stock traded up $0.47 during trading on Wednesday, hitting $10.02. 59,075,286 shares of the company's stock traded hands, compared to its average volume of 33,388,339. 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 $24.60 billion, a price-to-earnings ratio of -2.19, a P/E/G ratio of 8.64 and a beta of 1.46. The business has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $9.92. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly 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 net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same period in the previous year, the business posted ($0.40) EPS. The firm's revenue was down 9.8% on a year-over-year basis. As a group, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company 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.