US Bancorp DE Cuts Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

US Bancorp DE lessened its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,362 shares of the company’s stock after selling 44,535 shares during the period. US Bancorp DE’s holdings in Warner Bros. Discovery were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WBD. SVB Wealth LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at approximately $168,000. Fielder Capital Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $128,000. Prosperitas Financial LLC lifted its position in shares of Warner Bros. Discovery by 9.7% during the 4th quarter. Prosperitas Financial LLC now owns 139,293 shares of the company’s stock valued at $1,472,000 after buying an additional 12,324 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $121,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $794,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Trading Up 3.5 %

NASDAQ:WBD opened at $11.07 on Friday. The stock’s 50 day simple moving average is $10.39 and its 200-day simple moving average is $9.38. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The firm has a market cap of $27.16 billion, a P/E ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analysts Set New Price Targets

WBD has been the topic of a number of research reports. KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Barclays raised their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group boosted their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.91.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

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.