New South Capital Management Inc. Sells 35,885 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

New South Capital Management Inc. lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,393,004 shares of the company's stock after selling 35,885 shares during the quarter. Warner Bros. Discovery makes up about 1.8% of New South Capital Management Inc.'s investment portfolio, making the stock its 23rd largest position. New South Capital Management Inc. owned 0.14% of Warner Bros. Discovery worth $36,407,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WBD. Norges Bank bought a new position in Warner Bros. Discovery during the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $168,930,000. FMR LLC raised its holdings in shares of Warner Bros. Discovery by 478.5% in the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after buying an additional 11,810,191 shares in the last quarter. Slate Path Capital LP lifted its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after buying an additional 6,381,000 shares during the period. Finally, KBC Group NV boosted its stake in Warner Bros. Discovery by 682.8% in the 1st quarter. KBC Group NV now owns 7,145,308 shares of the company's stock valued at $76,669,000 after buying an additional 6,232,561 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Warner Bros. Discovery Trading Up 0.8%

NASDAQ WBD traded up $0.09 during trading on Friday, reaching $11.21. 24,154,256 shares of the stock traded hands, compared to its average volume of 36,356,643. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. The firm has a market cap of $27.51 billion, a price-to-earnings ratio of -2.55 and a beta of 1.54. The stock's 50-day moving average price is $9.79 and its 200 day moving average price is $9.93.

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 the consensus estimate of ($0.12) by ($0.06). The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. Warner Bros. Discovery's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. Analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Citigroup cut their price objective on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a report on Tuesday, June 10th. Raymond James Financial reduced their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Morgan Stanley dropped their price objective 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. Finally, Bank of America boosted their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $12.33.

About Warner Bros. Discovery

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.