Baxter Bros Inc. Trims Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Baxter Bros Inc. lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,263 shares of the company’s stock after selling 7,222 shares during the quarter. Baxter Bros Inc.’s holdings in Warner Bros. Discovery were worth $510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. State Street Corp boosted its stake in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock valued at $176,523,000 after purchasing an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after buying an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Warner Bros. Discovery by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock worth $174,904,000 after buying an additional 861,656 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 2.1 %

WBD stock opened at $10.97 on Tuesday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. 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 has a market cap of $26.93 billion, a price-to-earnings ratio of -2.40, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The company has a fifty day moving average price of $10.42 and a 200 day moving average price of $9.62.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WBD shares. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Citigroup increased their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Barclays boosted their price objective on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.