Warner Bros. Discovery, Inc. (NASDAQ:WBD) Holdings Decreased by Smead Capital Management Inc.

Smead Capital Management Inc. trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,017,847 shares of the company's stock after selling 1,805,375 shares during the quarter. Warner Bros. Discovery comprises approximately 2.0% of Smead Capital Management Inc.'s portfolio, making the stock its 20th biggest position. Smead Capital Management Inc. owned approximately 0.41% of Warner Bros. Discovery worth $114,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Warner Bros. Discovery by 2.2% in the first quarter. State Street Corp now owns 109,844,866 shares of the company's stock valued at $1,658,653,000 after purchasing an additional 2,403,255 shares in the last quarter. Geode Capital Management LLC lifted its stake in Warner Bros. Discovery by 1.3% in the first quarter. Geode Capital Management LLC now owns 48,394,472 shares of the company's stock valued at $729,158,000 after buying an additional 620,993 shares during the last quarter. Invesco Ltd. lifted its stake in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company's stock valued at $306,085,000 after buying an additional 4,016,888 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Warner Bros. Discovery by 124,559.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company's stock valued at $266,158,000 after buying an additional 28,053,216 shares during the last quarter. Finally, Sessa Capital IM L.P. lifted its stake in Warner Bros. Discovery by 5.4% in the fourth quarter. Sessa Capital IM L.P. now owns 23,450,633 shares of the company's stock valued at $222,312,000 after buying an additional 1,195,666 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock traded up $0.08 during trading hours on Thursday, hitting $8.31. The stock had a trading volume of 22,057,620 shares, compared to its average volume of 26,732,947. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $20.27 billion, a price-to-earnings ratio of -6.49 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76. The stock's fifty day moving average is $8.79 and its two-hundred day moving average is $10.06.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. The firm's revenue for the quarter was down 6.6% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the subject of several analyst reports. Wells Fargo & Company cut Warner Bros. Discovery from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $16.00 to $12.00 in a research note on Monday, January 29th. Benchmark restated a "buy" rating and set a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Barclays cut their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Thursday, February 29th. Morgan Stanley cut their price target on Warner Bros. Discovery from $14.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, February 26th. Finally, Citigroup cut their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.24.

Warner Bros. Discovery 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.