Fisher Asset Management LLC Sells 34,931 Shares of Warner Bros. Discovery, Inc. $WBD

Fisher Asset Management LLC lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 512,228 shares of the company’s stock after selling 34,931 shares during the period. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $14,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Concord Wealth Partners raised its holdings in shares of Warner Bros. Discovery by 49.9% during the third quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 440 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Warner Bros. Discovery by 152.1% during the third quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after acquiring an additional 847 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $33,000. Finally, TOWER TRUST & INVESTMENT Co raised its holdings in shares of Warner Bros. Discovery by 4,730.8% during the fourth quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In other news, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the sale, the director directly owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Gunnar Wiedenfels sold 374,323 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total value of $10,499,760.15. Following the completion of the sale, the chief financial officer directly owned 663,380 shares in the company, valued at approximately $18,607,809. This represents a 36.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,206,827 shares of company stock valued at $230,674,025. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research downgraded Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a report on Friday, April 24th. Argus decreased their price objective on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $26.36.

Warner Bros. Discovery Price Performance

WBD opened at $27.14 on Thursday. The stock has a fifty day simple moving average of $27.24 and a two-hundred day simple moving average of $27.23. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. The company has a market cap of $68.04 billion, a price-to-earnings ratio of -38.77 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12-month low of $9.11 and a 12-month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.Warner Bros. Discovery’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. Research analysts predict that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.