Handelsbanken Fonder AB Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Handelsbanken Fonder AB cut its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 551,186 shares of the company’s stock after selling 38,298 shares during the period. Handelsbanken Fonder AB’s holdings in Warner Bros. Discovery were worth $5,914,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WBD. Colonial Trust Advisors lifted its stake in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after purchasing an additional 996 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the last quarter. Graney & King LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at $28,000. Finally, Ethos Financial Group LLC bought a new position in Warner Bros. Discovery in the 4th quarter valued at $29,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Down 3.3%

Shares of Warner Bros. Discovery stock opened at $10.16 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market cap of $24.94 billion, a P/E ratio of -2.22, a PEG ratio of 8.64 and a beta of 1.51. The firm’s 50 day moving average price is $8.95 and its 200-day moving average price is $9.94. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm 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%. Warner Bros. Discovery’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) earnings per share. On average, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WBD shares. Argus upgraded Warner Bros. Discovery to a “hold” rating in a research report on Tuesday, May 27th. Rosenblatt Securities reiterated a “neutral” rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Barrington Research restated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Monday. Huber Research raised shares of Warner Bros. Discovery to a “strong-buy” rating in a research report on Monday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Tuesday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.17.

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.