Mirae Asset Global Investments Co. Ltd. Sells 95,077 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 4.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,296,969 shares of the company’s stock after selling 95,077 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Warner Bros. Discovery were worth $26,140,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WBD. Moneta Group Investment Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 124,559.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock worth $266,158,000 after buying an additional 28,053,216 shares in the last quarter. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth $196,222,000. Boston Partners raised its stake in Warner Bros. Discovery by 43.0% during the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock valued at $153,713,000 after purchasing an additional 4,275,994 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Warner Bros. Discovery during the third quarter valued at $49,058,000. Finally, Invesco Ltd. raised its stake in Warner Bros. Discovery by 16.6% during the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after purchasing an additional 4,016,888 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Redburn Atlantic downgraded shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 11th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. Macquarie cut their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Monday, January 22nd. Barrington Research cut their price target on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, Barclays cut their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery has an average rating of “Moderate Buy” and an average target price of $14.24.

Warner Bros. Discovery Stock Performance

WBD stock opened at $8.52 on Tuesday. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of -6.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50-day simple moving average of $9.07 and a two-hundred day simple moving average of $10.19. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $15.56.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The company had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current fiscal 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.