Ninety One UK Ltd Sells 365,500 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ninety One UK Ltd lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 75.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Colonial Trust Advisors grew 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 worth $25,000 after purchasing an additional 996 shares during the period. TCTC Holdings LLC grew its position in shares of Warner Bros. Discovery by 18.1% in the fourth quarter. TCTC Holdings LLC now owns 8,156 shares of the company's stock valued at $86,000 after purchasing an additional 1,250 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Warner Bros. Discovery by 9.7% in the first quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock valued at $160,000 after purchasing an additional 1,318 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Warner Bros. Discovery by 11.4% in the fourth quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock valued at $139,000 after purchasing an additional 1,338 shares during the last quarter. Finally, CX Institutional grew its position in shares of Warner Bros. Discovery by 5.7% in the first quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after purchasing an additional 1,465 shares during the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WBD shares. Bank of America upped their target price on Warner Bros. Discovery from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. KeyCorp reduced their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Raymond James Financial reduced their price target on 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. Finally, Barclays increased their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.41.

Warner Bros. Discovery Trading Up 1.3%

NASDAQ:WBD traded up $0.15 during trading hours on Thursday, hitting $11.64. 16,632,623 shares of the company were exchanged, compared to its average volume of 36,612,110. The stock has a market capitalization of $28.56 billion, a price-to-earnings ratio of -2.64 and a beta of 1.54. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.99. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a fifty day simple moving average of $9.94 and a 200 day simple moving average of $9.95.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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). The business had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.16% and a negative return on equity of 30.56%. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) EPS. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.