Clarkston Capital Partners LLC Sells 42,899 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Clarkston Capital Partners LLC decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,706,175 shares of the company’s stock after selling 42,899 shares during the quarter. Warner Bros. Discovery makes up 1.0% of Clarkston Capital Partners LLC’s holdings, making the stock its 26th largest holding. Clarkston Capital Partners LLC owned about 0.19% of Warner Bros. Discovery worth $49,744,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Warner Bros. Discovery during the fourth quarter worth $362,210,000. Contrarius Group Holdings Ltd purchased a new position in Warner Bros. Discovery in the fourth quarter valued at about $168,930,000. State Street Corp raised its holdings in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares in the last quarter. Amundi lifted its position in shares of Warner Bros. Discovery by 108.1% during the fourth quarter. Amundi now owns 10,151,114 shares of the company’s stock valued at $102,120,000 after buying an additional 5,272,717 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co bought a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at about $23,825,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on WBD shares. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Bank of America reiterated a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Citigroup boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Ten investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.96.

Insider Transactions at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $8.07 on Friday. The business’s 50-day moving average is $10.50 and its two-hundred day moving average is $9.77. The company has a market capitalization of $19.81 billion, a P/E ratio of -1.76, a P/E/G ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 company had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Warner Bros. Discovery Company 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.