Clarkston Capital Partners LLC Reduces Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Clarkston Capital Partners LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,706,175 shares of the company's stock after selling 42,899 shares during the period. Warner Bros. Discovery accounts for about 1.0% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 26th largest position. Clarkston Capital Partners LLC owned about 0.19% of Warner Bros. Discovery worth $49,744,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. grew its stake in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after acquiring an additional 1,940 shares in the last quarter. Graney & King LLC bought a new stake in Warner Bros. Discovery in the 4th quarter valued at $28,000. Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the 4th quarter worth $29,000. Finally, Briaud Financial Planning Inc boosted its holdings in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of research reports. Citigroup increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Bank of America restated a "buy" rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.71.

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Warner Bros. Discovery Stock Down 3.6 %

Shares of NASDAQ WBD traded down $0.29 during midday trading on Friday, reaching $7.81. 16,082,324 shares of the company's stock traded hands, compared to its average volume of 32,359,915. The company has a market cap of $19.17 billion, a price-to-earnings ratio of -1.71, a P/E/G ratio of 8.64 and a beta of 1.43. The stock's 50 day simple moving average is $10.25 and its 200-day simple moving average is $9.76. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were bought 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 of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company's stock.

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.