Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,636,816 shares of the company's stock after selling 349,765 shares during the quarter. Warner Bros. Discovery accounts for approximately 1.2% of New South Capital Management Inc.'s holdings, making the stock its 28th biggest holding. New South Capital Management Inc. owned about 0.15% of Warner Bros. Discovery worth $30,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Crewe Advisors LLC purchased a new stake in Warner Bros. Discovery during the 1st quarter valued at $27,000. Family Firm Inc. acquired a new position in Warner Bros. Discovery during the second quarter worth $26,000. OFI Invest Asset Management raised its holdings in shares of Warner Bros. Discovery by 45.9% in the 2nd quarter. OFI Invest Asset Management now owns 3,879 shares of the company's stock valued at $27,000 after buying an additional 1,221 shares during the period. Transcendent Capital Group LLC increased its holdings in shares of Warner Bros. Discovery by 665.4% in the 1st quarter. Transcendent Capital Group LLC now owns 4,003 shares of the company's stock valued at $35,000 after acquiring an additional 3,480 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Warner Bros. Discovery in the 1st quarter valued at approximately $39,000. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock traded down $0.11 on Tuesday, hitting $9.22. 35,219,280 shares of the stock were exchanged, compared to its average volume of 29,251,635. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm's 50 day moving average is $7.93 and its two-hundred day moving average is $7.83. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $22.61 billion, a PE ratio of -2.04 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (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 business had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm's quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WBD shares. Sanford C. Bernstein lowered Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $10.00 to $8.00 in a research note on Tuesday, August 13th. Moffett Nathanson dropped their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday. Benchmark reaffirmed a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Finally, Barclays boosted their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an "equal weight" rating in a research note on Friday. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.55.

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.