Victory Capital Management Inc. Sells 11,492 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Victory Capital Management Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,760,100 shares of the company’s stock after selling 11,492 shares during the period. Victory Capital Management Inc. owned about 0.07% of Warner Bros. Discovery worth $18,604,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WBD. Stonebridge Financial Group LLC bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $26,000. SRS Capital Advisors Inc. raised its position in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Sugar Maple Asset Management LLC bought a new stake in Warner Bros. Discovery in the fourth quarter worth about $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $37,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after buying an additional 3,743 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WBD shares. Citigroup boosted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Bank of America reissued a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, KeyCorp boosted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Stock Down 2.1 %

NASDAQ:WBD opened at $10.37 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $25.46 billion, a P/E ratio of -2.26, a P/E/G ratio of 8.64 and a beta of 1.48. The company’s 50-day simple moving average is $10.39 and its 200-day simple moving average is $9.43. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

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

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.