Warner Bros. Discovery, Inc. $WBD Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers cut its Warner Bros. Discovery stake by 24.3% in the first quarter, selling 88,895 shares and retaining 277,468 shares valued at approximately $7.6 million.
• Institutional investors and hedge funds own about 59.95% of WBD’s outstanding shares, with several major funds—including Geode Capital Management and Handelsbanken Fonder—recently increasing their positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $27.04. WBD recently reported a wider-than-expected quarterly loss of $1.17 per share, while revenue of $8.89 billion was roughly in line with estimates.

Cetera Investment Advisers reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 24.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,468 shares of the company's stock after selling 88,895 shares during the period. Cetera Investment Advisers' holdings in Warner Bros. Discovery were worth $7,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WBD. Handelsbanken Fonder AB increased its holdings in shares of Warner Bros. Discovery by 130.8% in the fourth quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company's stock valued at $29,069,000 after purchasing an additional 571,612 shares during the last quarter. Brighton Jones LLC lifted its position in Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company's stock worth $729,000 after buying an additional 51,920 shares in the last quarter. Varma Mutual Pension Insurance Co acquired a new position in Warner Bros. Discovery during the fourth quarter worth $12,372,000. Geode Capital Management LLC boosted its stake in Warner Bros. Discovery by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company's stock worth $1,912,634,000 after buying an additional 1,028,346 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Warner Bros. Discovery by 16.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,212,473 shares of the company's stock valued at $34,943,000 after buying an additional 170,802 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Guggenheim reaffirmed a "neutral" rating on shares of Warner Bros. Discovery in a research note on Thursday, May 7th. UBS Group boosted their price target on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Seaport Research Partners cut shares of Warner Bros. Discovery from a "buy" rating to a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Finally, KeyCorp reiterated an "overweight" rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.04.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $26.30 on Friday. The company's 50 day simple moving average is $26.57 and its 200-day simple moving average is $27.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a 1 year low of $10.76 and a 1 year high of $30.00. The company has a market capitalization of $65.94 billion, a price-to-earnings ratio of -37.57 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analysts' expectations of $8.89 billion. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The company's quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -1.08 earnings per share for the current year.

Warner Bros. Discovery Profile

Warner Bros. Discovery NASDAQ: WBD is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company's core activities include film and television production and distribution through units such as Warner Bros.

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