Fisher Asset Management LLC Lowers Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fisher Asset Management LLC cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,753,680 shares of the company’s stock after selling 5,859 shares during the period. Fisher Asset Management LLC owned about 0.07% of Warner Bros. Discovery worth $14,468,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Family Firm Inc. bought a new stake in Warner Bros. Discovery during the second quarter valued at about $26,000. OFI Invest Asset Management raised its holdings in Warner Bros. Discovery by 45.9% during the second quarter. OFI Invest Asset Management now owns 3,879 shares of the company’s stock valued at $27,000 after acquiring an additional 1,221 shares during the period. LRI Investments LLC bought a new stake in Warner Bros. Discovery during the first quarter valued at about $39,000. Bank & Trust Co bought a new stake in Warner Bros. Discovery during the second quarter valued at about $39,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Warner Bros. Discovery during the third quarter valued at about $41,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on WBD. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Warner Bros. Discovery in a report on Thursday, November 7th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Warner Bros. Discovery from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, TD Cowen reduced their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.55.

Warner Bros. Discovery Stock Up 2.7 %

Shares of NASDAQ:WBD opened at $10.38 on Thursday. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The business has a 50 day simple moving average of $8.41 and a two-hundred day simple moving average of $7.98. The firm has a market capitalization of $25.46 billion, a PE ratio of -2.27 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

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, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current 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.