Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Arnhold LLC

Arnhold LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,106 shares of the company's stock after selling 34,227 shares during the quarter. Arnhold LLC's holdings in Warner Bros. Discovery were worth $1,238,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Coronation Fund Managers Ltd. raised its holdings in Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after acquiring an additional 1,981,050 shares during the last quarter. Prudential PLC raised its holdings in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock valued at $1,429,000 after acquiring an additional 32,102 shares during the last quarter. SVB Wealth LLC acquired a new position in Warner Bros. Discovery in the 4th quarter valued at $168,000. Finally, Natixis Advisors LLC raised its holdings in Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock valued at $3,076,000 after acquiring an additional 10,024 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 2.9 %

WBD stock traded down $0.25 during midday trading on Wednesday, hitting $8.52. 17,937,884 shares of the company's stock were exchanged, compared to its average volume of 32,992,896. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a 50 day moving average price of $9.72 and a 200-day moving average price of $9.79. The stock has a market capitalization of $20.91 billion, a price-to-earnings ratio of -1.86, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). 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 $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WBD shares. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barclays lowered their price objective on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Raymond James lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and a consensus price target of $12.01.

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.