Woodline Partners LP Cuts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Woodline Partners LP lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 95.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 28,587 shares of the company's stock after selling 554,567 shares during the quarter. Woodline Partners LP's holdings in Warner Bros. Discovery were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WBD. Colonial Trust Advisors raised its holdings in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after acquiring an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $26,000. SRS Capital Advisors Inc. raised its holdings in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC bought a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $28,000. Finally, Ethos Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD traded down $0.19 during trading hours on Friday, hitting $9.85. The stock had a trading volume of 52,968,974 shares, compared to its average volume of 33,571,202. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The stock has a fifty day moving average price of $8.96 and a 200 day moving average price of $9.93. 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 firm has a market capitalization of $24.18 billion, a PE ratio of -2.15, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly 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). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. Analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on WBD. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Benchmark restated a "buy" rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Barclays increased their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Raymond James dropped their target price on shares of 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, Argus raised shares of Warner Bros. Discovery to a "hold" rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and a consensus target price of $12.17.

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.