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

Fisher Asset Management LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,528,771 shares of the company’s stock after selling 224,909 shares during the quarter. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $16,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SVB Wealth LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $168,000. Fielder Capital Group LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $128,000. Prosperitas Financial LLC lifted its holdings in Warner Bros. Discovery by 9.7% during the 4th quarter. Prosperitas Financial LLC now owns 139,293 shares of the company’s stock worth $1,472,000 after buying an additional 12,324 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $121,000. Finally, Proficio Capital Partners LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth about $794,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $11.02 on Tuesday. The stock has a market capitalization of $27.03 billion, a PE ratio of -2.41, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock’s 50-day moving average price is $10.33 and its 200 day moving average price is $9.28. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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 net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’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 transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WBD shares. Raymond James lifted their price target on Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. The Goldman Sachs Group lifted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. KeyCorp lifted their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Bank of America reissued a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.75.

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.