Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,849,580 shares of the company’s stock after selling 23,958 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.20% of Warner Bros. Discovery worth $55,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of WBD. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Warner Bros. Discovery in the third quarter valued at $32,838,000. Retirement Systems of Alabama purchased a new position in Warner Bros. Discovery in the third quarter valued at $8,438,000. First Trust Advisors LP purchased a new position in Warner Bros. Discovery in the third quarter valued at $4,168,000. Price T Rowe Associates Inc. MD purchased a new position in Warner Bros. Discovery in the third quarter valued at $49,058,000. Finally, Two Sigma Advisers LP purchased a new position in Warner Bros. Discovery in the third quarter valued at $601,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 1.0 %

WBD opened at $8.31 on Friday. The business’s 50-day simple moving average is $8.79 and its 200-day simple moving average is $10.06. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76. The stock has a market capitalization of $20.27 billion, a P/E ratio of -6.49 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion for the quarter, compared to analyst estimates of $10.34 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WBD shares. Morgan Stanley decreased their target price on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Macquarie decreased their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Monday, January 22nd. Barclays decreased their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Citigroup decreased their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. decreased their price target on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $14.24.

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.