Mutual of America Capital Management LLC Trims Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Mutual of America Capital Management LLC lowered its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 31.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,390 shares of the company’s stock after selling 124,895 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Warner Bros. Discovery were worth $2,826,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WBD. State Street Corp lifted its position in Warner Bros. Discovery by 4.1% during the 3rd 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 period. Sessa Capital IM L.P. increased its position in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock valued at $234,386,000 after buying an additional 5,625,545 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new stake in Warner Bros. Discovery in the fourth quarter worth $23,825,000. Coronation Fund Managers Ltd. increased its holdings in shares of Warner Bros. Discovery by 54.1% during 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 in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Warner Bros. Discovery by 110.1% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company’s stock worth $28,239,000 after purchasing an additional 1,793,404 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company’s stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the sale, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Warner Bros. Discovery Trading Down 6.4 %

Shares of WBD stock opened at $10.70 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $26.25 billion, a price-to-earnings ratio of -2.34, a PEG ratio of 8.64 and a beta of 1.49. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The firm has a fifty day moving average price of $10.38 and a 200-day moving average price of $9.35.

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

Wall Street Analysts Forecast Growth

WBD has been the topic of several recent analyst reports. Bank of America reissued a “buy” rating and set a $14.00 price objective on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Macquarie lifted their target price on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.91.

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.