Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,446 shares of the company’s stock after selling 22,600 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Warner Bros. Discovery were worth $1,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Golden State Equity Partners increased its position in shares of Warner Bros. Discovery by 6.5% in the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company’s stock valued at $170,000 after acquiring an additional 986 shares during the period. Colonial Trust Advisors increased its position in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock valued at $25,000 after acquiring an additional 996 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of 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 acquiring an additional 1,066 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of 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 acquiring an additional 1,101 shares during the period. Finally, Personal CFO Solutions LLC increased its position in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company’s stock valued at $454,000 after acquiring an additional 1,174 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Trading Up 0.2%

WBD stock opened at $9.16 on Friday. The company’s 50-day simple moving average is $9.18 and its 200-day simple moving average is $9.88. 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 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market cap of $22.49 billion, a P/E ratio of -2.00, a PEG ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.40) earnings per share. As a group, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on WBD shares. Raymond James cut their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, April 4th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday. Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, May 9th. Finally, KeyCorp cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.22.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. The trade was a 12.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.90% of the stock is currently owned by corporate insiders.

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.