Bfsg LLC Sells 6,880 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Bfsg LLC reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 229,600 shares of the company’s stock after selling 6,880 shares during the quarter. Bfsg LLC’s holdings in Warner Bros. Discovery were worth $2,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. Park Place Capital Corp raised its stake in Warner Bros. Discovery by 33.4% during the third quarter. Park Place Capital Corp now owns 3,677 shares of the company’s stock worth $40,000 after acquiring an additional 921 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Warner Bros. Discovery by 2.3% in the third quarter. Forum Financial Management LP now owns 42,179 shares of the company’s stock valued at $458,000 after buying an additional 948 shares in the last quarter. Bridgeworth LLC increased its stake in shares of Warner Bros. Discovery by 7.4% in the fourth quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock valued at $158,000 after buying an additional 952 shares in the last quarter. Czech National Bank increased its stake in shares of Warner Bros. Discovery by 0.3% in the fourth quarter. Czech National Bank now owns 388,660 shares of the company’s stock valued at $4,423,000 after buying an additional 996 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its position in Warner Bros. Discovery by 1.8% in the fourth quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after purchasing an additional 1,025 shares during the period. 59.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on WBD shares. Macquarie reduced their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Citigroup reduced their target price on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $7.00 to $10.00 in a report on Thursday, March 21st. Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 price objective on the stock. in a report on Tuesday. Finally, Benchmark reiterated a “buy” rating and set a $20.00 price objective on shares of Warner Bros. Discovery in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded down $0.23 during trading on Thursday, reaching $8.15. 6,760,436 shares of the company traded hands, compared to its average volume of 26,241,453. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 52 week low of $8.02 and a 52 week high of $14.76. The firm has a market capitalization of $19.88 billion, a PE ratio of -6.47 and a beta of 1.51. The company’s 50 day moving average is $8.69 and its two-hundred day moving average is $10.01.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same period in the previous year, the company earned $0.42 EPS. Warner Bros. Discovery’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current year.

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.