NBT Bank N A NY Cuts Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

NBT Bank N A NY cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 51.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,505 shares of the company’s stock after selling 5,816 shares during the period. NBT Bank N A NY’s holdings in Warner Bros. Discovery were worth $58,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. Principal Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after buying an additional 78,653 shares during the period. Hauser Brothers GmbH boosted its position in Warner Bros. Discovery by 56.1% during the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after buying an additional 440,000 shares during the period. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery during the third quarter valued at about $1,474,000. Blueshift Asset Management LLC purchased a new stake in Warner Bros. Discovery during the third quarter valued at about $588,000. Finally, Natixis Advisors LLC boosted its position in Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock valued at $2,318,000 after buying an additional 52,051 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Guggenheim increased their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup increased their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Bank of America reiterated a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Finally, The Goldman Sachs Group increased 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. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $10.37 on Wednesday. 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 50 day simple moving average of $10.39 and a two-hundred day simple moving average of $9.43. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2.26, a P/E/G ratio of 8.64 and a beta of 1.48. 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 announced its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). 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 $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling at Warner Bros. Discovery

In related 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 transaction of $2,094,228.96. Following the completion of the sale, the insider now owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.