Warner Bros. Discovery, Inc. $WBD Shares Sold by West Tower Group LLC

West Tower Group LLC lessened its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 35.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,915 shares of the company’s stock after selling 23,115 shares during the quarter. Warner Bros. Discovery accounts for 3.6% of West Tower Group LLC’s portfolio, making the stock its 10th largest position. West Tower Group LLC’s holdings in Warner Bros. Discovery were worth $1,151,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Private Advisory Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at $3,438,000. Hauser Brothers GmbH raised its stake in shares of Warner Bros. Discovery by 19.8% during the 3rd quarter. Hauser Brothers GmbH now owns 2,877,000 shares of the company’s stock valued at $56,188,000 after buying an additional 476,000 shares during the last quarter. Triad Investment Management acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at about $9,383,000. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Warner Bros. Discovery by 4.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 916,705 shares of the company’s stock valued at $26,419,000 after buying an additional 38,105 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Warner Bros. Discovery by 130.8% in the fourth quarter. Handelsbanken Fonder AB now owns 1,008,638 shares of the company’s stock worth $29,069,000 after buying an additional 571,612 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $26.12 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $65.49 billion, a PE ratio of -37.31 and a beta of 1.54. The business has a 50 day simple moving average of $26.87 and a 200-day simple moving average of $27.58. Warner Bros. Discovery, Inc. has a 12 month low of $10.76 and a 12 month high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results 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 business had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WBD. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. Seaport Research Partners upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, June 29th. UBS Group raised their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Huber Research raised shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a report on Monday, June 1st. Finally, Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.04.

Warner Bros. Discovery 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.