International Assets Investment Management LLC Lowers Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

International Assets Investment Management LLC decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 84.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,972 shares of the company's stock after selling 160,267 shares during the quarter. International Assets Investment Management LLC's holdings in Warner Bros. Discovery were worth $309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. grew its holdings in Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock valued at $234,386,000 after purchasing an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. increased its holdings in Warner Bros. Discovery by 2.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock worth $176,523,000 after acquiring an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company's stock worth $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Warner Bros. Discovery by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company's stock valued at $129,405,000 after buying an additional 687,612 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Activity at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Trading Up 1.3 %

Warner Bros. Discovery stock traded up $0.13 during midday trading on Monday, hitting $9.83. 2,017,565 shares of the stock were exchanged, compared to its average volume of 24,995,615. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of -2.15 and a beta of 1.52. The stock's 50-day simple moving average is $10.26 and its 200 day simple moving average is $8.64. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.79 billion. During the same period in the prior year, the firm posted ($0.17) earnings per share. The firm's quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WBD shares. Wolfe Research raised Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a report on Monday, November 11th. The Goldman Sachs Group raised their price target 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 reaffirmed a "buy" rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Hold" and a consensus target price of $11.46.

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.