Warner Bros. Discovery, Inc. $WBD Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 52.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,102 shares of the company’s stock after selling 26,947 shares during the period. Plato Investment Management Ltd’s holdings in Warner Bros. Discovery were worth $467,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in WBD. Vanguard Group Inc. boosted its stake in Warner Bros. Discovery by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 262,477,555 shares of the company’s stock worth $3,007,993,000 after buying an additional 5,657,524 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 60,091,463 shares of the company’s stock worth $685,798,000 after acquiring an additional 551,548 shares during the period. Invesco Ltd. boosted its position in shares of Warner Bros. Discovery by 2.8% in the second quarter. Invesco Ltd. now owns 44,574,492 shares of the company’s stock worth $510,824,000 after acquiring an additional 1,233,195 shares during the last quarter. Norges Bank acquired a new stake in shares of Warner Bros. Discovery in the second quarter worth approximately $306,848,000. Finally, Pacer Advisors Inc. grew its holdings in Warner Bros. Discovery by 4,639.8% in the third quarter. Pacer Advisors Inc. now owns 22,788,847 shares of the company’s stock valued at $445,066,000 after purchasing an additional 22,308,046 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Lori C. Locke sold 4,122 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $28.92, for a total transaction of $119,208.24. Following the transaction, the chief accounting officer directly owned 100,962 shares of the company’s stock, valued at approximately $2,919,821.04. The trade was a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $29.50, for a total transaction of $7,168,323.00. Following the completion of the sale, the chief financial officer directly owned 918,940 shares of the company’s stock, valued at $27,108,730. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 267,116 shares of company stock worth $7,781,731. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Up 2.2%

Shares of NASDAQ WBD opened at $27.35 on Monday. The stock has a fifty day moving average price of $28.06 and a 200 day moving average price of $21.14. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 12-month low of $7.52 and a 12-month high of $30.00. The company has a market cap of $67.77 billion, a P/E ratio of 143.95 and a beta of 1.64.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.The company had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the previous year, the company earned $0.05 EPS. Warner Bros. Discovery’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WBD shares. Barrington Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. Morgan Stanley set a $29.00 price objective on Warner Bros. Discovery in a report on Thursday, December 18th. UBS Group increased their target price on Warner Bros. Discovery from $20.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 28th. Argus boosted their price target on Warner Bros. Discovery from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Finally, The Goldman Sachs Group upped their price target on Warner Bros. Discovery from $13.00 to $14.75 and gave the stock a “buy” rating in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.94.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.