Handelsbanken Fonder AB Sells 522,031 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Handelsbanken Fonder AB reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 61.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,520 shares of the company’s stock after selling 522,031 shares during the period. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $3,693,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its stake in Warner Bros. Discovery by 15.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after acquiring an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Warner Bros. Discovery by 39.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock worth $4,594,000 after purchasing an additional 120,586 shares during the period. New South Capital Management Inc. lifted its position in shares of Warner Bros. Discovery by 21.1% in the 3rd quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock worth $44,334,000 after purchasing an additional 711,820 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Warner Bros. Discovery by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after purchasing an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $105,000. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, February 26th. Rosenblatt Securities raised shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and upped their price target for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $16.00 to $12.00 in a research report on Monday, January 29th. Barrington Research lowered their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a research report on Monday, February 26th. Finally, Macquarie decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Moderate Buy” and an average price target of $13.83.

Warner Bros. Discovery Trading Down 1.1 %

NASDAQ WBD opened at $8.29 on Friday. The company has a fifty day simple moving average of $8.69 and a two-hundred day simple moving average of $10.01. The stock has a market cap of $20.23 billion, a P/E ratio of -6.48 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12-month low of $8.02 and a 12-month high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90.

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

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.