Greenleaf Trust Sells 26,500 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Greenleaf Trust trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 58.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,805 shares of the company’s stock after selling 26,500 shares during the quarter. Greenleaf Trust’s holdings in Warner Bros. Discovery were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of WBD. Fortis Group Advisors LLC bought a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $25,000. Peoples Bank KS bought a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $27,000. Pacifica Partners Inc. grew its position in Warner Bros. Discovery by 118.2% during the 4th quarter. Pacifica Partners Inc. now owns 2,483 shares of the company’s stock worth $27,000 after acquiring an additional 1,345 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in Warner Bros. Discovery during the 3rd quarter worth approximately $28,000. Finally, Headinvest LLC purchased a new stake in Warner Bros. Discovery in the 3rd quarter worth approximately $28,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $8.38 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.93 and a quick ratio of 0.93. Warner Bros. Discovery, Inc. has a one year low of $8.02 and a one year high of $14.76. The firm has a market capitalization of $20.44 billion, a P/E ratio of -6.52 and a beta of 1.51. The business has a fifty day moving average of $8.72 and a 200 day moving average of $10.02.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The firm had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same period in the previous year, the firm earned $0.42 EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on WBD. Rosenblatt Securities upgraded Warner Bros. Discovery from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Redburn Atlantic cut Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Thursday, January 11th. JPMorgan Chase & Co. dropped their price objective on Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Wells Fargo & Company cut Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $16.00 to $12.00 in a report on Monday, January 29th. Finally, Wolfe Research cut Warner Bros. Discovery from a “peer perform” rating to an “underperform” rating and set a $7.00 target price for the company. in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.83.

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.