Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by CM Management LLC

CM Management LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 60.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Hauser Brothers GmbH grew its position in shares of Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after acquiring an additional 440,000 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter valued at approximately $1,474,000. Blueshift Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter valued at approximately $588,000. Finally, Natixis Advisors LLC lifted its stake in Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after purchasing an additional 52,051 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $11.07 on Friday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The firm has a market cap of $27.16 billion, a P/E ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. The business’s 50-day moving average price is $10.39 and its 200 day moving average price is $9.38.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion for 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, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 599,317 shares in the company, valued at $7,407,558.12. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Wednesday. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, Guggenheim raised their price target on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

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.