Fisher Asset Management LLC Reduces Stake in Warner Bros. Discovery, Inc. $WBD

Fisher Asset Management LLC trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 587,141 shares of the company’s stock after selling 203,557 shares during the quarter. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $6,729,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its stake in shares of Warner Bros. Discovery by 0.8% during the 1st quarter. Summit Investment Advisors Inc. now owns 101,522 shares of the company’s stock worth $1,089,000 after buying an additional 795 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Warner Bros. Discovery by 0.6% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 134,943 shares of the company’s stock valued at $1,546,000 after acquiring an additional 857 shares in the last quarter. Eastern Bank raised its position in Warner Bros. Discovery by 11.6% during the second quarter. Eastern Bank now owns 8,452 shares of the company’s stock worth $97,000 after acquiring an additional 879 shares during the last quarter. Holistic Financial Partners lifted its holdings in shares of Warner Bros. Discovery by 5.2% in the second quarter. Holistic Financial Partners now owns 18,209 shares of the company’s stock valued at $209,000 after purchasing an additional 898 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Warner Bros. Discovery by 12.4% in the second quarter. Parkside Financial Bank & Trust now owns 8,164 shares of the company’s stock valued at $94,000 after purchasing an additional 899 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WBD. Barclays set a $20.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, October 8th. TD Cowen raised their price target on Warner Bros. Discovery from $14.00 to $22.00 in a research report on Friday, November 7th. UBS Group upped their price objective on Warner Bros. Discovery from $10.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Cowen lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Warner Bros. Discovery from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

Insider Buying and Selling at Warner Bros. Discovery

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of Warner Bros. Discovery stock in a transaction on Monday, September 15th. The stock was sold at an average price of $19.50, for a total value of $10,350,463.50. Following the transaction, the chief financial officer owned 1,141,150 shares in the company, valued at approximately $22,252,425. This trade represents a 31.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lori C. Locke sold 5,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $23.83, for a total value of $119,150.00. Following the sale, the chief accounting officer directly owned 140,084 shares of the company’s stock, valued at approximately $3,338,201.72. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,202,325 shares of company stock worth $23,053,615 in the last quarter. 1.90% of the stock is owned by insiders.

Warner Bros. Discovery Stock Down 0.1%

Shares of NASDAQ:WBD opened at $24.54 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. The firm has a market cap of $60.81 billion, a price-to-earnings ratio of 129.16, a PEG ratio of 1.00 and a beta of 1.60. The stock’s 50-day moving average price is $21.25 and its two-hundred day moving average price is $15.36. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $24.75.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. On average, research analysts forecast 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.