Yacktman Asset Management LP Trims Stock Position in Warner Bros. Discovery, Inc. $WBD

Yacktman Asset Management LP decreased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,338,337 shares of the company’s stock after selling 288,460 shares during the quarter. Warner Bros. Discovery makes up about 2.0% of Yacktman Asset Management LP’s holdings, making the stock its 21st largest position. Yacktman Asset Management LP owned 0.30% of Warner Bros. Discovery worth $143,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WBD. TriaGen Wealth Management LLC acquired a new stake in Warner Bros. Discovery in the third quarter valued at $443,000. Penserra Capital Management LLC grew its stake in shares of Warner Bros. Discovery by 29,882.6% during the 2nd quarter. Penserra Capital Management LLC now owns 62,064 shares of the company’s stock worth $710,000 after purchasing an additional 61,857 shares during the period. Country Club Bank increased its holdings in shares of Warner Bros. Discovery by 54.3% in the 2nd quarter. Country Club Bank now owns 502,878 shares of the company’s stock valued at $5,683,000 after purchasing an additional 176,994 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Warner Bros. Discovery by 7.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 19,463,234 shares of the company’s stock valued at $223,049,000 after purchasing an additional 1,333,005 shares during the period. Finally, Swedbank AB boosted its holdings in Warner Bros. Discovery by 3.7% during the third quarter. Swedbank AB now owns 1,065,445 shares of the company’s stock worth $20,808,000 after buying an additional 37,986 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barrington Research downgraded shares of Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research report on Friday, December 5th. Moffett Nathanson lifted their price objective on Warner Bros. Discovery from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Friday. Rothschild Redb upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 30th. Argus upped their target price on Warner Bros. Discovery from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings raised Warner Bros. Discovery from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.08.

Insider Activity at Warner Bros. Discovery

In other news, CFO Gunnar Wiedenfels sold 242,994 shares of Warner Bros. Discovery stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the completion of the sale, the chief financial officer owned 918,940 shares of the company’s stock, valued at $27,108,730. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lori C. Locke sold 4,122 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $28.92, for a total value of $119,208.24. Following the completion of the transaction, the chief accounting officer owned 100,962 shares of the company’s stock, valued at $2,919,821.04. The trade was a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 267,116 shares of company stock valued at $7,781,731 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Trading Down 0.2%

Warner Bros. Discovery stock opened at $27.54 on Monday. The stock has a 50-day moving average price of $27.69 and a 200 day moving average price of $20.63. Warner Bros. Discovery, Inc. has a 52 week low of $7.52 and a 52 week high of $30.00. The stock has a market cap of $68.24 billion, a PE ratio of 144.95 and a beta of 1.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.90.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.17 billion. Warner Bros. Discovery had a return on equity of 1.34% and a net margin of 1.28%.Warner Bros. Discovery’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.