Warner Bros. Discovery, Inc. $WBD Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 52.8% during the third quarter, Holdings Channel reports. The fund owned 24,102 shares of the company’s stock after selling 26,947 shares during the quarter. Plato Investment Management Ltd’s holdings in Warner Bros. Discovery were worth $467,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WBD. Concord Wealth Partners increased its holdings in Warner Bros. Discovery by 49.9% during the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after purchasing an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in shares of Warner Bros. Discovery by 152.1% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock valued at $27,000 after buying an additional 847 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in shares of Warner Bros. Discovery during the second quarter worth approximately $29,000. Grove Bank & Trust increased its stake in shares of Warner Bros. Discovery by 66.5% in the third quarter. Grove Bank & Trust now owns 1,690 shares of the company’s stock worth $33,000 after buying an additional 675 shares during the last quarter. Finally, Crews Bank & Trust raised its holdings in Warner Bros. Discovery by 1,242.2% in the third quarter. Crews Bank & Trust now owns 1,718 shares of the company’s stock valued at $34,000 after acquiring an additional 1,590 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WBD. Rothschild & Co Redburn set a $28.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, October 30th. Barrington Research downgraded Warner Bros. Discovery from an “outperform” rating to a “hold” rating in a research note on Friday, December 5th. Moffett Nathanson boosted their price objective on Warner Bros. Discovery from $26.00 to $31.00 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings cut Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Morgan Stanley set a $29.00 target price on Warner Bros. Discovery in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.94.

Insider Buying and Selling

In other Warner Bros. Discovery news, CAO Lori C. Locke sold 5,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $27.62, for a total transaction of $138,100.00. Following the completion of the transaction, the chief accounting officer directly owned 110,084 shares of the company’s stock, valued at $3,040,520.08. The trade was a 4.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Gunnar Wiedenfels sold 242,994 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $29.50, for a total value of $7,168,323.00. Following the transaction, the chief financial officer owned 918,940 shares of the company’s stock, valued at approximately $27,108,730. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 267,116 shares of company stock valued at $7,781,731 in the last 90 days. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Price Performance

WBD opened at $27.35 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $28.06 and its 200 day moving average price is $21.14. Warner Bros. Discovery, Inc. has a fifty-two week low of $7.52 and a fifty-two week high of $30.00. The firm has a market cap of $67.77 billion, a price-to-earnings ratio of 143.95 and a beta of 1.64.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 6th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $9.17 billion. Warner Bros. Discovery had a net margin of 1.28% and a return on equity of 1.34%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Warner Bros. Discovery 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.