Warner Bros. Discovery, Inc. $WBD Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 48.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,228 shares of the company’s stock after selling 22,763 shares during the quarter. Moors & Cabot Inc.’s holdings in Warner Bros. Discovery were worth $698,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Warner Bros. Discovery by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 283,180,433 shares of the company’s stock valued at $8,161,260,000 after acquiring an additional 1,966,278 shares during the period. Geode Capital Management LLC lifted its holdings in Warner Bros. Discovery by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 66,597,575 shares of the company’s stock valued at $1,912,634,000 after acquiring an additional 1,028,346 shares during the period. Jericho Capital Asset Management L.P. lifted its holdings in Warner Bros. Discovery by 108.9% in the third quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after acquiring an additional 18,291,865 shares during the period. Northern Trust Corp lifted its holdings in Warner Bros. Discovery by 3.9% in the third quarter. Northern Trust Corp now owns 23,496,725 shares of the company’s stock valued at $458,891,000 after acquiring an additional 876,869 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Warner Bros. Discovery by 9.7% in the third quarter. Dimensional Fund Advisors LP now owns 18,820,858 shares of the company’s stock valued at $367,417,000 after acquiring an additional 1,658,317 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $27.01 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. Warner Bros. Discovery, Inc. has a one year low of $9.11 and a one year high of $30.00. The stock has a market capitalization of $67.72 billion, a price-to-earnings ratio of -38.59 and a beta of 1.54. The stock has a 50 day moving average price of $27.22 and a 200 day moving average price of $27.28.

Warner Bros. Discovery (NASDAQ:WBD) last issued 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). Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm had revenue of $8.89 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Paul A. Gould sold 600,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.35, for a total transaction of $16,410,000.00. Following the completion of the sale, the director directly owned 244,357 shares in the company, valued at approximately $6,683,163.95. The trade was a 71.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Fazal F. Merchant sold 35,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the sale, the director owned 95,539 shares of the company’s stock, valued at $2,625,411.72. The trade was a 26.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,206,827 shares of company stock valued at $230,674,025 in the last three months. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WBD. Benchmark reissued a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 27th. Arete Research reissued a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a report on Friday, February 27th. Moffett Nathanson raised Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. Zacks Research downgraded Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein boosted their price target on Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Company 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.