Pictet Asset Management Holding SA Cuts Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pictet Asset Management Holding SA reduced its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 982,722 shares of the company's stock after selling 57,434 shares during the quarter. Pictet Asset Management Holding SA's holdings in Warner Bros. Discovery were worth $10,387,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in WBD. Principal Financial Group Inc. lifted its holdings in 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 worth $21,281,000 after buying an additional 78,653 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $1,474,000. Coronation Fund Managers Ltd. boosted its position in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock valued at $59,660,000 after purchasing an additional 1,981,050 shares in the last quarter. SVB Wealth LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth $168,000. Finally, Natixis Advisors LLC raised its holdings in Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after purchasing an additional 10,024 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

WBD stock traded down $1.09 during trading on Friday, reaching $8.07. The stock had a trading volume of 57,325,473 shares, compared to its average volume of 31,945,679. The firm has a market cap of $19.81 billion, a PE ratio of -1.76, a PEG ratio of 8.64 and a beta of 1.43. 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's 50 day moving average is $10.50 and its two-hundred day moving average is $9.77. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70.

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Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued 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 business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WBD has been the topic of a number of recent research reports. KeyCorp upped their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Raymond James decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Barclays raised their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Finally, Bank of America reissued a "buy" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and eleven have given 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 $11.96.

Warner Bros. Discovery 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.