Conning Inc. Sells 3,429 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Conning Inc. lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,900 shares of the company’s stock after selling 3,429 shares during the period. Conning Inc.’s holdings in Warner Bros. Discovery were worth $136,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WBD shares. Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Barclays raised their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Rosenblatt Securities upped their price target on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.76.

Warner Bros. Discovery Trading Down 0.4 %

WBD stock opened at $10.16 on Monday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market capitalization of $24.92 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 7.98 and a beta of 1.49. The company’s 50 day moving average price is $10.45 and its two-hundred day moving average price is $8.99. 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 quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

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.