IPG Investment Advisors LLC Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

IPG Investment Advisors LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 772,404 shares of the company's stock after selling 109,010 shares during the quarter. Warner Bros. Discovery makes up approximately 1.9% of IPG Investment Advisors LLC's investment portfolio, making the stock its 16th largest holding. IPG Investment Advisors LLC's holdings in Warner Bros. Discovery were worth $8,164,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Cerity Partners LLC increased its position in Warner Bros. Discovery by 81.0% during the third quarter. Cerity Partners LLC now owns 210,104 shares of the company's stock worth $1,733,000 after acquiring an additional 94,050 shares during the period. Larson Financial Group LLC grew its position in Warner Bros. Discovery by 54.1% in the third quarter. Larson Financial Group LLC now owns 4,998 shares of the company's stock valued at $41,000 after acquiring an additional 1,754 shares during the last quarter. Brooklyn Investment Group bought a new position in Warner Bros. Discovery in the third quarter valued at about $51,000. Townsquare Capital LLC raised its stake in Warner Bros. Discovery by 47.9% during the third quarter. Townsquare Capital LLC now owns 27,134 shares of the company's stock worth $224,000 after acquiring an additional 8,784 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Warner Bros. Discovery by 107.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 466,104 shares of the company's stock valued at $3,845,000 after purchasing an additional 241,150 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

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Warner Bros. Discovery Price Performance

NASDAQ:WBD traded down $0.87 during mid-day trading on Thursday, hitting $9.69. 21,113,130 shares of the stock traded hands, compared to its average volume of 31,722,177. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $23.79 billion, a PE ratio of -2.12, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The business's 50-day moving average price is $10.56 and its 200 day moving average price is $9.76.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. 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. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their target price for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Guggenheim lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Finally, Barclays lifted their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.91.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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.