American International Group Inc. Sells 1,607 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

American International Group Inc. reduced its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 832,552 shares of the company’s stock after selling 1,607 shares during the period. American International Group Inc.’s holdings in Warner Bros. Discovery were worth $9,474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WBD. Bridgeworth LLC increased its holdings in shares of Warner Bros. Discovery by 7.4% in the 4th quarter. Bridgeworth LLC now owns 13,845 shares of the company’s stock worth $158,000 after buying an additional 952 shares during the last quarter. Czech National Bank increased its holdings in shares of Warner Bros. Discovery by 0.3% in the 4th quarter. Czech National Bank now owns 388,660 shares of the company’s stock worth $4,423,000 after buying an additional 996 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 1.8% in the 4th quarter. Harbour Capital Advisors LLC now owns 56,833 shares of the company’s stock worth $642,000 after buying an additional 1,025 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Warner Bros. Discovery by 20.8% in the 4th quarter. Blue Trust Inc. now owns 6,254 shares of the company’s stock worth $68,000 after buying an additional 1,076 shares during the last quarter. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 56.3% in the 4th quarter. FinTrust Capital Advisors LLC now owns 3,066 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Sanford C. Bernstein cut their price target on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Benchmark reiterated a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday. KeyCorp upgraded shares of Warner Bros. Discovery from a “sector weight” rating to an “overweight” rating and set a $11.00 price target on the stock in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.16.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $6.99 on Wednesday. The company has a market cap of $17.13 billion, a price-to-earnings ratio of -5.64 and a beta of 1.53. Warner Bros. Discovery, Inc. has a twelve month low of $6.96 and a twelve month high of $14.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average of $8.03 and a two-hundred day moving average of $9.30.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.16). The firm had revenue of $9.96 billion during the quarter, compared to analyst estimates of $10.22 billion. Warner Bros. Discovery had a negative net margin of 7.45% and a negative return on equity of 6.58%. Warner Bros. Discovery’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -0.38 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

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.