Mariner LLC Lowers Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mariner LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 27.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 512,148 shares of the company's stock after selling 192,842 shares during the quarter. Mariner LLC's holdings in Warner Bros. Discovery were worth $5,407,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock valued at $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after purchasing an additional 1,991,441 shares in the last quarter. Norges Bank bought a new position in Warner Bros. Discovery in the 4th quarter worth approximately $362,210,000. Charles Schwab Investment Management Inc. grew its holdings in Warner Bros. Discovery by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock valued at $174,904,000 after buying an additional 861,656 shares in the last quarter. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $168,930,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WBD has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price 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. KeyCorp cut their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Barclays cut their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup upped their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.76.

Warner Bros. Discovery Trading Up 2.4 %

Shares of NASDAQ WBD opened at $8.11 on Friday. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $19.91 billion, a price-to-earnings ratio of -1.77, a PEG ratio of 8.64 and a beta of 1.43. The business's 50 day moving average price is $10.01 and its 200-day moving average price is $9.75.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its 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). The business had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

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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