Wittenberg Investment Management Inc. Lowers Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wittenberg Investment Management Inc. lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 43.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 589,804 shares of the company’s stock after selling 457,129 shares during the period. Warner Bros. Discovery comprises about 2.5% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Wittenberg Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $6,234,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WBD. Stonebridge Financial Group LLC bought a new position in Warner Bros. Discovery in the fourth quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its holdings in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new position in Warner Bros. Discovery during the fourth quarter valued at $28,000. Ethos Financial Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter valued at about $29,000. Finally, Briaud Financial Planning Inc increased its position in Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of NASDAQ:WBD opened at $9.16 on Friday. The firm has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $9.76. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $22.49 billion, a P/E ratio of -2.00, a PEG ratio of 8.64 and a beta of 1.48.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Citigroup lifted their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Barrington Research reissued an “outperform” rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Finally, Bank of America restated a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.91.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.80% of the company’s stock.

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.