Corient Private Wealth LLC Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Corient Private Wealth LLC reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,028 shares of the company's stock after selling 112,590 shares during the quarter. Corient Private Wealth LLC's holdings in Warner Bros. Discovery were worth $2,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Warner Bros. Discovery by 4.1% in the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after buying an additional 5,898,611 shares during the period. Amundi increased its stake in shares of Warner Bros. Discovery by 108.1% during the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock valued at $102,120,000 after purchasing an additional 5,272,717 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $23,825,000. LBP AM SA purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $21,032,000. Finally, Coronation Fund Managers Ltd. increased its position in Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after buying an additional 1,981,050 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent research reports. Citigroup increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. Bank of America reiterated a "buy" rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Guggenheim upped their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.91.

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Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, the director now directly owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD traded down $0.08 during midday trading on Tuesday, hitting $10.90. The company had a trading volume of 18,649,196 shares, compared to its average volume of 30,440,041. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a fifty day moving average of $10.42 and a two-hundred day moving average of $9.62. The company has a market cap of $26.74 billion, a price-to-earnings ratio of -2.38, a PEG ratio of 8.64 and a beta of 1.48. 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 (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $10.16 billion. On average, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.