Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,047 shares of the company’s stock after selling 10,410 shares during the quarter. Everence Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares in the last quarter. Hauser Brothers GmbH raised its holdings in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after acquiring an additional 440,000 shares during the last quarter. Private Management Group Inc. lifted its position in shares of Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth about $588,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $10.57 on Monday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of -2.31 and a beta of 1.50. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a fifty day simple moving average of $10.03 and a 200 day simple moving average of $8.53.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) earnings per share. Equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WBD. Rosenblatt Securities upped their target price on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, December 13th. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Guggenheim lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Bank of America reissued a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Finally, Wolfe Research raised shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and an average target price of $11.44.

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.