Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 584,069 shares of the company’s stock after selling 13,405 shares during the period. OLD National Bancorp IN’s holdings in Warner Bros. Discovery were worth $6,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of WBD. Boston Partners raised its holdings in shares of Warner Bros. Discovery by 43.0% during the third quarter. Boston Partners now owns 14,225,819 shares of the company’s stock worth $153,713,000 after purchasing an additional 4,275,994 shares during the last quarter. Invesco Ltd. raised its stake in shares of Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after buying an additional 4,016,888 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Warner Bros. Discovery by 12.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,823,875 shares of the company’s stock valued at $237,007,000 after buying an additional 2,356,665 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 1,232.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,648,036 shares of the company’s stock worth $17,898,000 after buying an additional 1,524,370 shares during the last quarter. Finally, UBS Group AG grew its holdings in Warner Bros. Discovery by 55.5% during the third quarter. UBS Group AG now owns 3,964,873 shares of the company’s stock worth $43,059,000 after acquiring an additional 1,415,744 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD stock traded down $0.03 during midday trading on Monday, reaching $8.37. The stock had a trading volume of 2,902,001 shares, compared to its average volume of 26,407,441. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The company’s fifty day simple moving average is $8.77 and its 200 day simple moving average is $10.04. The company has a market cap of $20.42 billion, a price-to-earnings ratio of -6.61 and a beta of 1.51.

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

Wall Street Analysts Forecast Growth

WBD has been the topic of several recent research reports. Morgan Stanley lowered their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. dropped their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Barrington Research cut their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. Redburn Atlantic lowered shares of Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, January 11th. Finally, Benchmark restated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research note on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery 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.