Warner Bros. Discovery, Inc. (NASDAQ:WBD) Stock Position Reduced by Cullen Investment Group LTD.

Cullen Investment Group LTD. lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 63,534 shares of the company’s stock after selling 2,045 shares during the quarter. Cullen Investment Group LTD.’s holdings in Warner Bros. Discovery were worth $672,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Hauser Brothers GmbH lifted its position in Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after acquiring an additional 440,000 shares in the last quarter. Private Management Group Inc. lifted its stake in Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after acquiring an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Warner Bros. Discovery during the third quarter valued at approximately $1,474,000. Finally, Blueshift Asset Management LLC acquired a new position in Warner Bros. Discovery during the third quarter worth approximately $588,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.84 on Tuesday. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The stock’s fifty day simple moving average is $10.26 and its two-hundred day simple moving average is $8.65. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market cap of $24.14 billion, a PE ratio of -2.15 and a beta of 1.52.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of recent analyst reports. Guggenheim upped their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Raymond James increased their target price 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. Barrington Research restated an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.46.

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.