Y Intercept Hong Kong Ltd Reduces Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Y Intercept Hong Kong Ltd cut its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 87.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,245 shares of the company’s stock after selling 406,630 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Warner Bros. Discovery were worth $605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of WBD. State Street Corp boosted its stake in shares of Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its position in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares during the period. Coronation Fund Managers Ltd. grew its stake in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after buying an additional 1,981,050 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Warner Bros. Discovery by 110.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock worth $28,239,000 after buying an additional 1,793,404 shares during the period. 59.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WBD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Raymond James boosted their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group raised their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.75.

Warner Bros. Discovery Price Performance

Shares of WBD stock opened at $11.46 on Friday. The company has a market cap of $28.11 billion, a P/E ratio of -2.50, a PEG ratio of 8.64 and a beta of 1.49. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50-day moving average is $10.33 and its 200 day moving average is $9.25. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value 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 approximately $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 can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery 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.