Fisher Asset Management LLC Cuts Stock Holdings in Warner Bros. Discovery, Inc. $WBD

Fisher Asset Management LLC decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 512,228 shares of the company’s stock after selling 34,931 shares during the quarter. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $14,762,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WBD. Brighton Jones LLC grew its holdings in shares of Warner Bros. Discovery by 304.9% during the fourth quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock worth $729,000 after purchasing an additional 51,920 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after purchasing an additional 21,228 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Warner Bros. Discovery by 6.2% during the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock worth $698,000 after purchasing an additional 3,779 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Warner Bros. Discovery by 91.6% during the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock worth $1,254,000 after purchasing an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Warner Bros. Discovery by 3.8% during the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock worth $1,277,000 after purchasing an additional 4,062 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WBD shares. Huber Research lowered Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 27th. Zacks Research lowered Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research note on Friday, February 27th. UBS Group upped their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Hold” and a consensus price target of $26.36.

Insider Activity

In other news, CFO Gunnar Wiedenfels sold 374,323 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.05, for a total transaction of $10,499,760.15. Following the completion of the sale, the chief financial officer owned 663,380 shares of the company’s stock, valued at approximately $18,607,809. This represents a 36.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gerhard Zeiler sold 600,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total value of $16,812,000.00. Following the sale, the insider directly owned 672,649 shares of the company’s stock, valued at approximately $18,847,624.98. This trade represents a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,206,827 shares of company stock valued at $230,674,025. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $27.14 on Thursday. The firm has a market cap of $68.04 billion, a PE ratio of -38.77 and a beta of 1.57. Warner Bros. Discovery, Inc. has a fifty-two week low of $9.11 and a fifty-two week high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The business has a 50 day moving average price of $27.24 and a 200-day moving average price of $27.23.

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

Warner Bros. Discovery Company 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.