Bank Julius Baer & Co. Ltd Zurich Sells 422,427 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bank Julius Baer & Co. Ltd Zurich trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,842,580 shares of the company’s stock after selling 422,427 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.16% of Warner Bros. Discovery worth $43,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Machina Capital S.A.S. bought a new position in Warner Bros. Discovery during the fourth quarter worth about $453,000. Mesirow Financial Investment Management Inc. raised its position in shares of Warner Bros. Discovery by 10.5% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 36,278 shares of the company’s stock worth $383,000 after purchasing an additional 3,448 shares during the period. AMG National Trust Bank lifted its holdings in shares of Warner Bros. Discovery by 28.1% during the 4th quarter. AMG National Trust Bank now owns 535,602 shares of the company’s stock valued at $5,629,000 after purchasing an additional 117,588 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $222,000. Finally, E Fund Management Co. Ltd. increased its stake in Warner Bros. Discovery by 33.5% during the 4th quarter. E Fund Management Co. Ltd. now owns 34,537 shares of the company’s stock worth $365,000 after purchasing an additional 8,668 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value 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 $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 3.5 %

Warner Bros. Discovery stock opened at $11.07 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $10.39 and its 200-day moving average is $9.38. The firm has a market capitalization of $27.16 billion, a PE ratio of -2.42, a P/E/G ratio of 8.64 and a beta of 1.48. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share 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 the consensus estimate of $10.16 billion. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WBD shares. Barrington Research reiterated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday. The Goldman Sachs Group upped 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 note on Thursday, December 19th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. 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. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

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.