Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,274 shares of the company’s stock after selling 21,343 shares during the period. Thoroughbred Financial Services LLC’s holdings in Warner Bros. Discovery were worth $139,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WBD. Oppenheimer & Co. Inc. increased its holdings in Warner Bros. Discovery by 15.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after purchasing an additional 53,909 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Warner Bros. Discovery by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock worth $9,168,000 after acquiring an additional 36,405 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of Warner Bros. Discovery in the 4th quarter worth approximately $105,000. Ameriprise Financial Inc. grew its position in shares of Warner Bros. Discovery by 2.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 7,879,216 shares of the company’s stock worth $85,588,000 after acquiring an additional 186,639 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Warner Bros. Discovery by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,839,596 shares of the company’s stock worth $20,935,000 after acquiring an additional 187,508 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 4.5 %

Shares of Warner Bros. Discovery stock opened at $7.70 on Friday. The stock’s fifty day moving average is $8.29 and its 200-day moving average is $9.66. The firm has a market capitalization of $18.79 billion, a PE ratio of -6.21 and a beta of 1.51. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. Warner Bros. Discovery, Inc. has a 12-month low of $7.34 and a 12-month high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.16). The company had revenue of $9.96 billion for the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative return on equity of 6.58% and a negative net margin of 7.45%. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Wells Fargo & Company lowered Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $16.00 to $12.00 in a research report on Monday, January 29th. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Citigroup reduced their price objective on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Barclays reduced their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.32.

About Warner Bros. Discovery

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.