Rafferty Asset Management LLC Sells 229,259 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rafferty Asset Management LLC lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,395,972 shares of the company's stock after selling 229,259 shares during the period. Rafferty Asset Management LLC owned 0.06% of Warner Bros. Discovery worth $14,755,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of WBD. Norges Bank acquired a new position in Warner Bros. Discovery in the fourth quarter valued at about $362,210,000. Contrarius Group Holdings Ltd bought a new stake in Warner Bros. Discovery during the 4th quarter worth approximately $168,930,000. FMR LLC raised its holdings in Warner Bros. Discovery by 478.5% during the 4th quarter. FMR LLC now owns 14,278,600 shares of the company's stock worth $150,925,000 after buying an additional 11,810,191 shares during the period. Slate Path Capital LP lifted its stake in Warner Bros. Discovery by 36.6% in the fourth quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock valued at $251,577,000 after buying an additional 6,381,000 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock valued at $102,120,000 after buying an additional 5,272,717 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Barclays raised their price objective on shares of Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Finally, Barrington Research restated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.22.

Warner Bros. Discovery Stock Performance

WBD traded up $0.18 during trading hours on Tuesday, reaching $9.23. The company's stock had a trading volume of 38,315,461 shares, compared to its average volume of 33,308,835. The company's 50-day moving average is $9.14 and its 200-day moving average is $9.91. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market cap of $22.66 billion, a PE ratio of -2.02, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $8.98 billion during the quarter, compared to the consensus estimate of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery's revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.40) earnings per share. On average, equities analysts forecast 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 purchased 17,346 shares of the stock in a transaction on 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 acquisition, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was 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 link. 1.90% of the stock is owned by company insiders.

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.