BI Asset Management Fondsmaeglerselskab A S Sells 367,802 Shares of Warner Bros. Discovery, Inc. $WBD

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 65.0% during the first quarter, Holdings Channel.com reports. The firm owned 197,938 shares of the company’s stock after selling 367,802 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Warner Bros. Discovery were worth $5,435,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its holdings in Warner Bros. Discovery by 12.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock worth $99,000 after acquiring an additional 378 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Warner Bros. Discovery by 20.2% during the fourth quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after acquiring an additional 419 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in shares of Warner Bros. Discovery by 7.1% during the fourth quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock worth $184,000 after purchasing an additional 425 shares during the period. Root Financial Partners LLC raised its position in shares of Warner Bros. Discovery by 17.5% during the fourth quarter. Root Financial Partners LLC now owns 2,879 shares of the company’s stock worth $83,000 after purchasing an additional 429 shares during the period. Finally, Optas LLC lifted its holdings in shares of Warner Bros. Discovery by 3.0% in the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock worth $436,000 after purchasing an additional 435 shares in the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $26.95 on Tuesday. The stock has a 50 day moving average of $27.01 and a 200 day moving average of $27.67. The company has a market capitalization of $67.57 billion, a price-to-earnings ratio of -38.50 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 12 month low of $10.27 and a 12 month high of $30.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WBD shares. Sanford C. Bernstein lifted their price target on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research report on Tuesday, February 24th. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and lifted their price objective for the company from $29.50 to $31.00 in a report on Friday, February 27th. Raymond James Financial restated an “underperform” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Finally, Arete Research reaffirmed a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average price target of $27.04.

About Warner Bros. Discovery

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.