Long Focus Capital Management LLC Reduces Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Long Focus Capital Management LLC reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 38.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,509,000 shares of the company's stock after selling 941,000 shares during the quarter. Long Focus Capital Management LLC owned about 0.06% of Warner Bros. Discovery worth $15,950,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Warner Bros. Discovery during the third quarter worth $1,545,000. Tidal Investments LLC raised its stake in Warner Bros. Discovery by 89.5% in the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company's stock worth $1,177,000 after acquiring an additional 67,355 shares during the last quarter. Synovus Financial Corp grew its stake in Warner Bros. Discovery by 17.3% during the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company's stock valued at $571,000 after purchasing an additional 10,199 shares during the last quarter. Franklin Resources Inc. grew its stake in Warner Bros. Discovery by 111.0% during the 3rd quarter. Franklin Resources Inc. now owns 375,462 shares of the company's stock valued at $2,831,000 after purchasing an additional 197,528 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after purchasing an additional 78,653 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WBD. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price objective on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. raised their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Raymond James lowered their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Friday, April 4th. Finally, Citigroup lifted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $11.76.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD opened at $7.95 on Wednesday. The firm's fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $9.75. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market cap of $19.52 billion, a price-to-earnings ratio of -1.74, a PEG ratio of 8.64 and a beta of 1.43. 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 (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 company had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.

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