Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Lazari Capital Management Inc.

Lazari Capital Management Inc. trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,547 shares of the company’s stock after selling 2,257 shares during the period. Lazari Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in Warner Bros. Discovery by 16.6% in the third quarter. Invesco Ltd. now owns 28,184,613 shares of the company’s stock worth $306,085,000 after purchasing an additional 4,016,888 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Warner Bros. Discovery by 17.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,534,218 shares of the company’s stock valued at $290,579,000 after acquiring an additional 3,710,343 shares in the last quarter. Northern Trust Corp increased its stake in shares of Warner Bros. Discovery by 2.6% during the third quarter. Northern Trust Corp now owns 20,873,998 shares of the company’s stock valued at $226,692,000 after acquiring an additional 524,965 shares during the period. Norges Bank bought a new stake in Warner Bros. Discovery during the fourth quarter worth approximately $198,916,000. Finally, Boston Partners lifted its position in Warner Bros. Discovery by 9.9% in the fourth quarter. Boston Partners now owns 15,640,771 shares of the company’s stock worth $177,384,000 after purchasing an additional 1,414,952 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD stock traded down $0.05 on Friday, reaching $7.24. 22,879,072 shares of the company were exchanged, compared to its average volume of 27,635,164. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.82 and a quick ratio of 0.82. Warner Bros. Discovery, Inc. has a 12 month low of $7.21 and a 12 month high of $14.76. The stock’s fifty day moving average price is $8.10 and its 200 day moving average price is $9.37. The firm has a market capitalization of $17.74 billion, a PE ratio of -5.84 and a beta of 1.53.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lowered their price target on Warner Bros. Discovery from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Benchmark reiterated a “buy” rating and issued a $20.00 price target on shares of Warner Bros. Discovery in a research report on Monday, March 4th. Sanford C. Bernstein reduced their price objective on shares of Warner Bros. Discovery from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Warner Bros. Discovery from $13.00 to $10.00 and set a “neutral” rating for the company 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.16.

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.