USS Investment Management Ltd Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

USS Investment Management Ltd lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 24.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 339,566 shares of the company's stock after selling 111,124 shares during the period. USS Investment Management Ltd's holdings in Warner Bros. Discovery were worth $3,591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WBD. Norges Bank purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $362,210,000. Contrarius Group Holdings Ltd acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $168,930,000. FMR LLC boosted its position in Warner Bros. Discovery by 478.5% during the fourth quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after acquiring an additional 11,810,191 shares during the last quarter. Slate Path Capital LP boosted its position in Warner Bros. Discovery by 36.6% during the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after acquiring an additional 6,381,000 shares during the last quarter. Finally, Sachem Head Capital Management LP acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $64,847,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Warner Bros. Discovery Trading Up 6.1%

Shares of WBD stock traded up $0.55 during trading hours on Tuesday, hitting $9.55. The company had a trading volume of 31,685,496 shares, compared to its average volume of 33,285,383. The stock has a market capitalization of $23.44 billion, a PE ratio of -2.09, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. 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 debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company's fifty day moving average is $9.02 and its 200 day moving average is $9.93.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results 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 business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery's quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) earnings per share. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent research reports. Rosenblatt Securities restated a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Wells Fargo & Company boosted their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Raymond James decreased their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, KeyCorp cut their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and an average target price of $12.22.

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.