First Manhattan CO. LLC. Has $1.53 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Manhattan CO. LLC. lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,266 shares of the company’s stock after selling 43,220 shares during the period. First Manhattan CO. LLC.’s holdings in Warner Bros. Discovery were worth $1,525,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Principal Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after buying an additional 1,981,050 shares during the last quarter. Prudential PLC boosted its stake in shares of Warner Bros. Discovery by 31.1% during the 4th quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after buying an additional 32,102 shares during the last quarter. SVB Wealth LLC bought a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $168,000. Finally, Natixis Advisors LLC increased its position in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock valued at $3,076,000 after acquiring an additional 10,024 shares during the last quarter. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WBD. Morgan Stanley lowered their price target on Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Wells Fargo & Company raised their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, KeyCorp reduced their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $12.22.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $9.04 on Friday. 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, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a fifty day moving average of $9.35 and a 200-day moving average of $9.84. The firm has a market capitalization of $22.19 billion, a P/E ratio of -1.97, a P/E/G ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. During the same quarter in the prior year, the business earned ($0.40) earnings per share. The business’s quarterly revenue was down 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS 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.