Profund Advisors LLC Sells 22,048 Shares of Warner Bros. Discovery, Inc. $WBD

Profund Advisors LLC lessened its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 7.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 264,779 shares of the company’s stock after selling 22,048 shares during the period. Profund Advisors LLC’s holdings in Warner Bros. Discovery were worth $7,631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after purchasing an additional 51,920 shares during the period. NewEdge Advisors LLC raised its holdings in Warner Bros. Discovery by 50.5% during the first quarter. NewEdge Advisors LLC now owns 63,254 shares of the company’s stock worth $679,000 after buying an additional 21,228 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Warner Bros. Discovery by 6.2% in the first quarter. Empowered Funds LLC now owns 65,082 shares of the company’s stock valued at $698,000 after buying an additional 3,779 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Warner Bros. Discovery by 91.6% in the first quarter. Focus Partners Wealth now owns 116,821 shares of the company’s stock valued at $1,254,000 after buying an additional 55,837 shares in the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Warner Bros. Discovery by 3.8% during the second quarter. Baird Financial Group Inc. now owns 111,450 shares of the company’s stock valued at $1,277,000 after buying an additional 4,062 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Arete Research restated a “neutral” rating and issued a $31.25 target price on shares of Warner Bros. Discovery in a report on Friday, February 27th. Weiss Ratings downgraded Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. TD Cowen boosted their price objective on Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, February 27th. UBS Group increased their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Huber Research lowered Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.36.

Insider Buying and Selling

In other news, insider Bruce Campbell sold 1,580,331 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider directly owned 690,028 shares of the company’s stock, valued at $19,320,784. This represents a 69.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 617,580 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.25, for a total value of $17,446,635.00. Following the sale, the chief financial officer directly owned 691,570 shares of the company’s stock, valued at $19,536,852.50. The trade was a 47.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,206,827 shares of company stock valued at $230,674,025 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Up 0.4%

WBD opened at $27.10 on Tuesday. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $30.00. The firm has a market capitalization of $67.94 billion, a P/E ratio of -38.71 and a beta of 1.57. The company’s 50-day moving average is $27.31 and its 200 day moving average is $26.98. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. Research analysts expect that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Warner Bros. Discovery Company 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.