DNB Asset Management AS Reduces Stock Position in Warner Bros. Discovery, Inc. $WBD

DNB Asset Management AS lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 63.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 463,717 shares of the company’s stock after selling 813,338 shares during the quarter. DNB Asset Management AS’s holdings in Warner Bros. Discovery were worth $13,364,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WBD. Concord Wealth Partners boosted its holdings in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock valued at $26,000 after acquiring an additional 440 shares during the period. Physician Wealth Advisors Inc. raised its position in Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after purchasing an additional 847 shares in the last quarter. Rakuten Securities Inc. raised its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Warner Bros. Discovery during the 3rd quarter valued at $33,000. Finally, TOWER TRUST & INVESTMENT Co raised its position in Warner Bros. Discovery by 4,730.8% during the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock valued at $36,000 after purchasing an additional 1,230 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In other news, insider Bruce Campbell sold 1,580,331 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $28.00, for a total value of $44,249,268.00. Following the completion of the transaction, the insider directly owned 690,028 shares of the company’s stock, valued at approximately $19,320,784. The trade was a 69.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Zaslav sold 4,004,149 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.26, for a total value of $113,157,250.74. Following the completion of the transaction, the chief executive officer directly owned 7,200,627 shares of the company’s stock, valued at approximately $203,489,719.02. The trade was a 35.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 8,206,827 shares of company stock worth $230,674,025. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD opened at $26.98 on Monday. The firm has a market cap of $67.64 billion, a price-to-earnings ratio of -38.54 and a beta of 1.57. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 12 month low of $8.82 and a 12 month high of $30.00. The stock has a fifty day moving average price of $27.33 and a 200-day moving average price of $26.94.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The company’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. As a group, equities research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WBD. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating and lifted their target price for the company from $29.50 to $31.00 in a research report on Friday, February 27th. Sanford C. Bernstein lifted their target price on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research report on Tuesday, February 24th. Raymond James Financial reaffirmed an “underperform” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Argus decreased their target price on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Zacks Research lowered Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.36.

Warner Bros. Discovery Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.