Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,240,527 shares of the company’s stock after selling 203,400 shares during the period. Swiss National Bank owned about 0.30% of Warner Bros. Discovery worth $82,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at about $25,000. Pacifica Partners Inc. lifted its position in shares of Warner Bros. Discovery by 118.2% in the fourth quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock valued at $27,000 after acquiring an additional 1,345 shares in the last quarter. Peoples Bank KS acquired a new stake in shares of Warner Bros. Discovery in the third quarter worth approximately $27,000. Milestone Investment Advisors LLC acquired a new position in Warner Bros. Discovery in the 3rd quarter valued at $28,000. Finally, Headinvest LLC purchased a new position in Warner Bros. Discovery in the 3rd quarter valued at $28,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $7.97 on Friday. The company’s 50 day simple moving average is $8.45 and its 200-day simple moving average is $9.87. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93. Warner Bros. Discovery, Inc. has a 1 year low of $7.34 and a 1 year high of $14.76. The company has a market capitalization of $19.44 billion, a price-to-earnings ratio of -6.23 and a beta of 1.51.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company cut shares of Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Citigroup decreased their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $7.00 to $10.00 in a research report on Thursday, March 21st. Finally, Barrington Research dropped their target price on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Company 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.