Rockefeller Capital Management L.P. Lowers Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Rockefeller Capital Management L.P. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 913,475 shares of the company’s stock after selling 709,409 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Warner Bros. Discovery were worth $9,654,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Golden State Equity Partners increased its stake in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock worth $170,000 after buying an additional 986 shares in the last quarter. Colonial Trust Advisors increased its position in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Warner Bros. Discovery by 12.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company’s stock valued at $105,000 after purchasing an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 7.4% in the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company’s stock valued at $169,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its stake in Warner Bros. Discovery by 2.8% during the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock worth $454,000 after purchasing an additional 1,174 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 4.0 %

Shares of NASDAQ WBD opened at $7.92 on Thursday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The business’s 50 day moving average is $10.08 and its two-hundred day moving average is $9.74. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of -1.73, a PEG ratio of 8.64 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

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

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WBD. Barrington Research reissued an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. KeyCorp decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday. Raymond James dropped their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Barclays reduced their price objective on Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, Benchmark restated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.66.

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.