Warner Bros. Discovery, Inc. (NASDAQ:WBD) Position Lessened by Smead Capital Management Inc.

Smead Capital Management Inc. decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,017,847 shares of the company’s stock after selling 1,805,375 shares during the period. Warner Bros. Discovery accounts for 2.0% of Smead Capital Management Inc.’s portfolio, making the stock its 20th largest position. Smead Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $114,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Warner Bros. Discovery by 2.2% in the 1st quarter. State Street Corp now owns 109,844,866 shares of the company’s stock worth $1,658,653,000 after purchasing an additional 2,403,255 shares during the last quarter. Geode Capital Management LLC raised its stake in Warner Bros. Discovery by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 48,394,472 shares of the company’s stock valued at $729,158,000 after acquiring an additional 620,993 shares in the last quarter. Invesco Ltd. raised its stake in Warner Bros. Discovery by 16.6% during the 3rd quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock valued at $306,085,000 after acquiring an additional 4,016,888 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Warner Bros. Discovery by 124,559.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 28,075,738 shares of the company’s stock valued at $266,158,000 after acquiring an additional 28,053,216 shares in the last quarter. Finally, Sessa Capital IM L.P. raised its stake in Warner Bros. Discovery by 5.4% during the 4th quarter. Sessa Capital IM L.P. now owns 23,450,633 shares of the company’s stock valued at $222,312,000 after acquiring an additional 1,195,666 shares in the last quarter. Institutional investors own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $16.00 to $12.00 in a research note on Monday, January 29th. Macquarie cut their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. Barrington Research lowered their price target on Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. Citigroup lowered their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Barclays lowered their price target on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 29th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.24.

Warner Bros. Discovery Stock Up 1.2 %

Shares of Warner Bros. Discovery stock traded up $0.10 during midday trading on Thursday, hitting $8.33. The company’s stock had a trading volume of 13,049,044 shares, compared to its average volume of 26,609,701. The firm has a market capitalization of $20.32 billion, a P/E ratio of -6.43 and a beta of 1.51. The stock has a 50-day simple moving average of $8.82 and a 200-day simple moving average of $10.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. Warner Bros. Discovery, Inc. has a 1-year low of $8.02 and a 1-year high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -0.35 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.