Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 75.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 121,521 shares of the company's stock after selling 365,500 shares during the quarter. Ninety One UK Ltd's holdings in Warner Bros. Discovery were worth $1,304,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. Prudential PLC boosted its holdings in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock worth $1,429,000 after acquiring an additional 32,102 shares during the period. GF Fund Management CO. LTD. purchased a new position in Warner Bros. Discovery in the 4th quarter worth approximately $4,914,000. Polar Asset Management Partners Inc. purchased a new position in Warner Bros. Discovery in the 4th quarter worth approximately $3,022,000. Hi Line Capital Management LLC boosted its holdings in Warner Bros. Discovery by 17.8% in the 1st quarter. Hi Line Capital Management LLC now owns 597,478 shares of the company's stock worth $6,411,000 after acquiring an additional 90,462 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after acquiring an additional 10,024 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

WBD has been the subject of several research analyst reports. Barclays increased their target price on Warner Bros. Discovery from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday. Huber Research upgraded Warner Bros. Discovery from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, June 9th. Argus upgraded Warner Bros. Discovery to a "hold" rating in a research note on Tuesday, May 27th. Wells Fargo & Company increased their target price on Warner Bros. Discovery from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Finally, Bank of America increased their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.41.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded up $0.08 during trading hours on Friday, hitting $11.73. The company had a trading volume of 70,242,172 shares, compared to its average volume of 36,906,488. 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 business has a fifty day simple moving average of $10.01 and a 200-day simple moving average of $9.96. The firm has a market cap of $28.79 billion, a P/E ratio of -2.67 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative return on equity of 30.56% and a negative net margin of 28.16%. The company had revenue of $8.98 billion during 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. Warner Bros. Discovery's quarterly revenue was down 9.8% on a year-over-year basis. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.