Lee Danner & Bass Inc. Has $496,000 Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Lee Danner & Bass Inc. trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,605 shares of the company’s stock after selling 1,575 shares during the period. Lee Danner & Bass Inc.’s holdings in Warner Bros. Discovery were worth $496,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Warner Bros. Discovery by 15.2% during the third quarter. Oppenheimer & Co. Inc. now owns 409,018 shares of the company’s stock worth $4,442,000 after purchasing an additional 53,909 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Warner Bros. Discovery by 39.9% in the third quarter. Daiwa Securities Group Inc. now owns 423,008 shares of the company’s stock valued at $4,594,000 after buying an additional 120,586 shares during the period. New South Capital Management Inc. lifted its holdings in Warner Bros. Discovery by 21.1% in the third quarter. New South Capital Management Inc. now owns 4,082,322 shares of the company’s stock valued at $44,334,000 after buying an additional 711,820 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Warner Bros. Discovery by 4.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 805,597 shares of the company’s stock valued at $9,168,000 after buying an additional 36,405 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $105,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Up 0.8 %

Shares of WBD stock opened at $8.47 on Tuesday. The firm has a fifty day moving average of $8.77 and a 200-day moving average of $10.04. 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 12-month low of $8.02 and a 12-month high of $14.76. The company has a market capitalization of $20.66 billion, a price-to-earnings ratio of -6.62 and a beta of 1.51.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The company had revenue of $10.28 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts predict that Warner Bros. Discovery, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on WBD shares. Barclays cut their price objective on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, February 29th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, February 26th. Barrington Research cut their price objective on shares of Warner Bros. Discovery from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Macquarie cut their price objective on shares of Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Monday, January 22nd. Finally, Wolfe Research downgraded shares of Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.83.

About Warner Bros. Discovery

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.