CM Management LLC Sells 105,000 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CM Management LLC trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 60.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 70,000 shares of the company's stock after selling 105,000 shares during the period. CM Management LLC's holdings in Warner Bros. Discovery were worth $740,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. M&G PLC grew its position in shares of Warner Bros. Discovery by 84.5% during the 3rd quarter. M&G PLC now owns 1,132,579 shares of the company's stock valued at $9,061,000 after acquiring an additional 518,750 shares during the period. Principal Financial Group Inc. grew its position in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after acquiring an additional 78,653 shares during the period. Pegasus Partners Ltd. grew its position in shares of Warner Bros. Discovery by 80.5% during the 3rd quarter. Pegasus Partners Ltd. now owns 47,095 shares of the company's stock valued at $389,000 after acquiring an additional 21,000 shares during the period. Corrado Advisors LLC boosted its holdings in Warner Bros. Discovery by 14.1% in the 3rd quarter. Corrado Advisors LLC now owns 139,810 shares of the company's stock worth $1,153,000 after buying an additional 17,302 shares during the period. Finally, Atria Investments Inc boosted its holdings in Warner Bros. Discovery by 31.9% in the 3rd quarter. Atria Investments Inc now owns 98,062 shares of the company's stock worth $809,000 after buying an additional 23,697 shares during the period. 59.95% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

WBD has been the subject of several analyst reports. Barclays raised their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Wolfe Research upgraded shares of Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research note on Monday, November 11th. Bank of America reiterated a "buy" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.91.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company's stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Trading Up 3.5 %

NASDAQ:WBD traded up $0.37 during trading hours on Friday, reaching $11.07. The company's stock had a trading volume of 49,417,596 shares, compared to its average volume of 30,151,116. The firm has a market capitalization of $27.16 billion, a price-to-earnings ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. The firm has a 50-day simple moving average of $10.39 and a 200-day simple moving average of $9.39. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year 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.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). The firm 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%. Research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.