Platinum Investment Management Ltd. Sells 1,286 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Platinum Investment Management Ltd. decreased its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 23.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,140 shares of the company’s stock after selling 1,286 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Warner Bros. Discovery were worth $44,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hauser Brothers GmbH grew its position in Warner Bros. Discovery by 56.1% during the third 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 during the last quarter. Principal Financial Group Inc. grew its position in 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 valued at $21,281,000 after acquiring an additional 78,653 shares during the last quarter. Erste Asset Management GmbH bought a new position in Warner Bros. Discovery during the third quarter valued at approximately $1,474,000. Blueshift Asset Management LLC bought a new position in Warner Bros. Discovery during the third quarter valued at approximately $588,000. Finally, Natixis Advisors LLC grew its position in Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock valued at $2,318,000 after acquiring an additional 52,051 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WBD. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. KeyCorp raised their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price target for the stock from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Trading Down 0.9 %

WBD opened at $10.39 on Wednesday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company has a market cap of $25.50 billion, a P/E ratio of -2.27, a PEG ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day simple moving average is $10.35 and its 200-day simple moving average is $9.53.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.16 billion. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.