Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 18.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,047 shares of the company’s stock after selling 10,410 shares during the period. Everence Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $497,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. State Street Corp boosted its position in Warner Bros. Discovery by 4.1% during the 3rd 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. Sessa Capital IM L.P. boosted its holdings in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. grew its position in shares of Warner Bros. Discovery by 2.6% during the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after acquiring an additional 541,192 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Warner Bros. Discovery by 1.6% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after acquiring an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Warner Bros. Discovery by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock valued at $129,405,000 after purchasing an additional 687,612 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

WBD opened at $10.57 on Monday. 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 firm has a market cap of $25.93 billion, a PE ratio of -2.31 and a beta of 1.50. The business has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $8.53. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 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 3.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. As a group, equities analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares in the company, valued at $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on WBD. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Macquarie raised their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wolfe Research upgraded Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Finally, Bank of America reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has an average rating of “Hold” and a consensus target price of $11.44.

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.