Pictet Asset Management Holding SA Sells 25,228 Shares of Warner Bros. Discovery, Inc. $WBD

Pictet Asset Management Holding SA cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,187,245 shares of the company’s stock after selling 25,228 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Warner Bros. Discovery were worth $32,591,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in WBD. Swiss RE Ltd. acquired a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $29,000. MV Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter valued at $30,000. Rakuten Securities Inc. grew its position in Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new stake in Warner Bros. Discovery during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of several research reports. Zacks Research upgraded Warner Bros. Discovery from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings lowered shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Argus reduced their price objective on shares of Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group increased their price objective on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company started coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $26.66 on Wednesday. The firm has a 50 day moving average of $26.95 and a 200-day moving average of $27.68. The company has a market cap of $66.84 billion, a price-to-earnings ratio of -38.09 and a beta of 1.54. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.92. Warner Bros. Discovery, Inc. has a 52 week low of $10.76 and a 52 week high of $30.00.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($1.07). The company had revenue of $8.89 billion for the quarter, compared to the consensus estimate of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.18) earnings per share. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current year.

About Warner Bros. Discovery

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.