Atria Investments Inc Has $503,000 Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Atria Investments Inc trimmed its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 51.4% during the fourth quarter, Holdings Channel reports. The firm owned 47,613 shares of the company’s stock after selling 50,449 shares during the period. Atria Investments Inc’s holdings in Warner Bros. Discovery were worth $503,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock valued at $1,248,109,000 after acquiring an additional 5,898,611 shares during the last quarter. Sessa Capital IM L.P. raised its stake in shares of Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after acquiring an additional 5,625,545 shares during the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $23,825,000. Coronation Fund Managers Ltd. raised its stake in shares of Warner Bros. Discovery by 54.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after acquiring an additional 1,981,050 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Warner Bros. Discovery by 110.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock valued at $28,239,000 after acquiring an additional 1,793,404 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD opened at $10.19 on Friday. The firm has a market cap of $25.01 billion, a PE ratio of -2.22, a PEG ratio of 8.64 and a beta of 1.48. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70. The company has a fifty day moving average price of $10.36 and a 200 day moving average price of $9.48.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results 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 during the quarter, compared to analyst estimates of $10.16 billion. Research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WBD. Barrington Research reiterated an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Benchmark restated a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, Barclays boosted their price objective on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company 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.