GTS Securities LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

GTS Securities LLC trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 93.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,520 shares of the company’s stock after selling 306,351 shares during the quarter. GTS Securities LLC’s holdings in Warner Bros. Discovery were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company’s stock worth $2,670,519,000 after purchasing an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company’s stock worth $605,633,000 after purchasing an additional 1,991,441 shares in the last quarter. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $362,210,000. Slate Path Capital LP boosted its holdings in shares of Warner Bros. Discovery by 36.6% in the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company’s stock worth $251,577,000 after purchasing an additional 6,381,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Warner Bros. Discovery by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company’s stock valued at $249,545,000 after acquiring an additional 1,725,775 shares during the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WBD. Citigroup lowered their target price on Warner Bros. Discovery from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Barclays boosted their target price on Warner Bros. Discovery from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, May 9th. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Raymond James lowered their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $12.17.

Warner Bros. Discovery Stock Down 1.9%

NASDAQ:WBD opened at $9.85 on Friday. The firm’s 50-day moving average price is $8.94 and its 200-day moving average price is $9.93. The company has a market capitalization of $24.18 billion, a PE ratio of -2.15, a P/E/G ratio of 8.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The business had revenue of $8.98 billion during the quarter, compared to analysts’ expectations of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) earnings per share. On average, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.