Banque Cantonale Vaudoise Sells 61,548 Shares of Warner Bros. Discovery, Inc. $WBD

Banque Cantonale Vaudoise decreased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 62.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 36,361 shares of the company’s stock after selling 61,548 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Warner Bros. Discovery were worth $1,048,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WBD. Rakuten Securities Inc. raised its position in Warner Bros. Discovery by 81.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the period. TOWER TRUST & INVESTMENT Co boosted its position in shares of Warner Bros. Discovery by 4,730.8% in the 4th quarter. TOWER TRUST & INVESTMENT Co now owns 1,256 shares of the company’s stock worth $36,000 after purchasing an additional 1,230 shares in the last quarter. Concord Wealth Partners raised its stake in Warner Bros. Discovery by 49.9% in the 3rd quarter. Concord Wealth Partners now owns 1,321 shares of the company’s stock worth $26,000 after acquiring an additional 440 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in Warner Bros. Discovery by 152.1% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 1,404 shares of the company’s stock worth $27,000 after acquiring an additional 847 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter valued at about $44,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warner Bros. Discovery

In related news, Director Fazal F. Merchant sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total value of $961,800.00. Following the completion of the sale, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. This represents a 26.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerhard Zeiler sold 600,000 shares of Warner Bros. Discovery stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $28.02, for a total transaction of $16,812,000.00. Following the sale, the insider directly owned 672,649 shares of the company’s stock, valued at $18,847,624.98. This trade represents a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 8,206,827 shares of company stock valued at $230,674,025. Corporate insiders own 1.90% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD stock opened at $27.03 on Friday. Warner Bros. Discovery, Inc. has a 12 month low of $8.84 and a 12 month high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $67.77 billion, a P/E ratio of -38.61 and a beta of 1.57. The company’s fifty day moving average price is $27.26 and its two-hundred day moving average price is $27.10.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter last year, the company posted ($0.18) EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts anticipate that Warner Bros. Discovery, Inc. will post -0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Warner Bros. Discovery in a report on Monday, March 9th. They issued an “equal weight” rating and a $31.00 price objective on the stock. Arete Research restated a “neutral” rating and issued a $31.25 price target on shares of Warner Bros. Discovery in a research note on Friday, February 27th. Weiss Ratings downgraded shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Sanford C. Bernstein upped their price objective on shares of Warner Bros. Discovery from $23.50 to $27.75 and gave the company a “market perform” rating in a research note on Tuesday, February 24th. Finally, Zacks Research cut shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.36.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.