Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,713 shares of the company’s stock after selling 2,721 shares during the quarter. Sunbelt Securities Inc.’s holdings in Warner Bros. Discovery were worth $155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth approximately $198,916,000. The Manufacturers Life Insurance Company grew its holdings in shares of Warner Bros. Discovery by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of Warner Bros. Discovery by 1,232.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after acquiring an additional 1,524,370 shares during the last quarter. ING Groep NV raised its holdings in shares of Warner Bros. Discovery by 3,010.0% during the fourth quarter. ING Groep NV now owns 1,538,503 shares of the company’s stock worth $17,508,000 after acquiring an additional 1,489,034 shares in the last quarter. Finally, Boston Partners boosted its position in Warner Bros. Discovery by 9.9% during the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock valued at $177,384,000 after purchasing an additional 1,414,952 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WBD. The Goldman Sachs Group began coverage on Warner Bros. Discovery in a research report on Tuesday. They issued a “neutral” rating and a $8.50 target price on the stock. Wolfe Research downgraded Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, May 10th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price target for the stock from $7.00 to $10.00 in a research note on Thursday, March 21st. Finally, Sanford C. Bernstein reduced their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.82.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock opened at $7.44 on Friday. The firm has a fifty day moving average price of $7.86 and a two-hundred day moving average price of $9.11. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.94 and a fifty-two week high of $14.76. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $18.23 billion, a PE ratio of -6.00 and a beta of 1.53.

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

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.