Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stake Lowered by West Tower Group LLC

West Tower Group LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,745 shares of the company's stock after selling 89,876 shares during the period. Warner Bros. Discovery makes up about 6.0% of West Tower Group LLC's investment portfolio, making the stock its 2nd largest holding. West Tower Group LLC's holdings in Warner Bros. Discovery were worth $2,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WBD. Atria Investments Inc raised its position in Warner Bros. Discovery by 31.9% in the third quarter. Atria Investments Inc now owns 98,062 shares of the company's stock worth $809,000 after acquiring an additional 23,697 shares during the period. OneDigital Investment Advisors LLC increased its position in Warner Bros. Discovery by 40.5% in the third quarter. OneDigital Investment Advisors LLC now owns 63,850 shares of the company's stock worth $527,000 after buying an additional 18,404 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Warner Bros. Discovery by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 58,354 shares of the company's stock valued at $481,000 after buying an additional 2,901 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Warner Bros. Discovery by 22.7% during the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company's stock valued at $2,318,000 after acquiring an additional 52,051 shares during the period. Finally, Swiss National Bank raised its stake in Warner Bros. Discovery by 0.7% during the 3rd quarter. Swiss National Bank now owns 6,909,427 shares of the company's stock worth $57,003,000 after acquiring an additional 47,300 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WBD. JPMorgan Chase & Co. lifted their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Guggenheim raised their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a report on Thursday, December 12th. Finally, Barclays upped their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.91.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares of the company's stock, 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 SEC, which can be accessed through this link. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Price Performance

NASDAQ:WBD traded up $0.09 during trading hours on Friday, hitting $10.74. 55,497,718 shares of the stock were exchanged, compared to its average volume of 30,396,146. The firm's fifty day moving average price is $10.40 and its 200 day moving average price is $9.58. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market cap of $26.36 billion, a P/E ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS 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 analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.