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

New South Capital Management Inc. trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,428,889 shares of the company’s stock after selling 207,927 shares during the period. Warner Bros. Discovery makes up about 1.5% of New South Capital Management Inc.’s portfolio, making the stock its 25th biggest position. New South Capital Management Inc. owned about 0.14% of Warner Bros. Discovery worth $36,243,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Arizona State Retirement System lifted its stake in Warner Bros. Discovery by 1.4% during the 4th quarter. Arizona State Retirement System now owns 675,993 shares of the company’s stock valued at $7,145,000 after acquiring an additional 9,085 shares during the period. Aigen Investment Management LP acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $1,771,000. Proficio Capital Partners LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $794,000. Assetmark Inc. lifted its stake in Warner Bros. Discovery by 6,152.2% during the 4th quarter. Assetmark Inc. now owns 126,794 shares of the company’s stock valued at $1,340,000 after acquiring an additional 124,766 shares during the period. Finally, Keybank National Association OH lifted its stake in Warner Bros. Discovery by 2.1% during the 4th quarter. Keybank National Association OH now owns 115,207 shares of the company’s stock valued at $1,218,000 after acquiring an additional 2,378 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $11.43 on Thursday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market capitalization of $28.04 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 8.64 and a beta of 1.49. The company has a fifty day simple moving average of $10.36 and a 200-day simple moving average of $9.34. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WBD shares. Benchmark reiterated a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Guggenheim boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Raymond James boosted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and an average price target of $11.91.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

About Warner Bros. Discovery

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.