Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Swedbank AB

Swedbank AB lessened its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 846,533 shares of the company's stock after selling 110,017 shares during the quarter. Swedbank AB's holdings in Warner Bros. Discovery were worth $8,948,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WBD. State Street Corp raised its position in Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after buying an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its stake in shares of Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company's stock worth $234,386,000 after acquiring an additional 5,625,545 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company's stock valued at $176,523,000 after purchasing an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company's stock valued at $172,338,000 after purchasing an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company's stock valued at $129,405,000 after acquiring an additional 687,612 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WBD shares. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price target for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Bank of America restated a "buy" rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Raymond James boosted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $11.76.

Warner Bros. Discovery Stock Performance

WBD traded up $0.13 during trading on Wednesday, hitting $10.19. The company's stock had a trading volume of 22,021,849 shares, compared to its average volume of 26,298,014. The firm has a market cap of $25.00 billion, a PE ratio of -2.22, a P/E/G ratio of 6.36 and a beta of 1.49. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The business's 50 day simple moving average is $10.46 and its 200-day simple moving average is $8.96. 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 posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. 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 $9.62 billion during the quarter, compared to analysts' expectations of $9.79 billion. During the same period last year, the company posted ($0.17) earnings per share. Warner Bros. Discovery's quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company's stock, valued at $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is 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.