Worldquant Millennium Advisors LLC Lowers Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Worldquant Millennium Advisors LLC reduced its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 51.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,648,826 shares of the company's stock after selling 1,774,103 shares during the quarter. Worldquant Millennium Advisors LLC owned 0.07% of Warner Bros. Discovery worth $17,428,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Colonial Trust Advisors boosted its stake in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after acquiring an additional 996 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after acquiring an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $28,000. Finally, Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth about $29,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Up 2.0%

Shares of NASDAQ WBD opened at $9.23 on Wednesday. The company has a 50 day simple moving average of $9.14 and a 200-day simple moving average of $9.91. The company has a market capitalization of $22.66 billion, a P/E ratio of -2.02, a P/E/G ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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). The firm 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%. The firm's quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) EPS. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WBD. KeyCorp decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Raymond James decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, April 4th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Barrington Research reaffirmed an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Tuesday, May 13th. Finally, Morgan Stanley decreased their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.22.

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.

Want to see what other hedge funds are holding WBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.