Fisher Asset Management LLC Sells 5,859 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Fisher Asset Management LLC lowered its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,753,680 shares of the company’s stock after selling 5,859 shares during the quarter. Fisher Asset Management LLC’s holdings in Warner Bros. Discovery were worth $14,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sessa Capital IM L.P. lifted its holdings in shares of 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 purchasing an additional 5,625,545 shares during the last quarter. Retirement Systems of Alabama raised its stake in Warner Bros. Discovery by 781.3% in the 2nd quarter. Retirement Systems of Alabama now owns 4,316,498 shares of the company’s stock worth $32,115,000 after acquiring an additional 3,826,715 shares during the last quarter. Mackenzie Financial Corp raised its stake in Warner Bros. Discovery by 1,216.7% in the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock worth $22,391,000 after acquiring an additional 2,780,986 shares during the last quarter. Drexel Morgan & Co. raised its stake in Warner Bros. Discovery by 43.5% in the 3rd quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, Clifford Capital Partners LLC purchased a new position in shares of Warner Bros. Discovery during the 2nd quarter valued at about $14,760,000. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.38 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $25.46 billion, a PE ratio of -2.27 and a beta of 1.48. The company has a fifty day moving average of $8.41 and a two-hundred day moving average of $7.98.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. 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 $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Warner Bros. Discovery’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts expect that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James raised their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Evercore ISI reduced their price target on shares of Warner Bros. Discovery from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company cut their target price on Warner Bros. Discovery from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Sanford C. Bernstein lowered Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and cut their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Hold” and an average price target of $10.55.

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.