Warner Bros. Discovery, Inc. $WBD Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. cut its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 56.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,949 shares of the company’s stock after selling 19,156 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Warner Bros. Discovery were worth $431,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WBD. E Fund Management Hong Kong Co. Ltd. grew its position in Warner Bros. Discovery by 268.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 8,342 shares of the company’s stock worth $230,000 after purchasing an additional 6,075 shares during the last quarter. Catalyst Financial Partners LLC grew its position in Warner Bros. Discovery by 5.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 11,536 shares of the company’s stock worth $332,000 after purchasing an additional 595 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in Warner Bros. Discovery by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 283,787 shares of the company’s stock worth $8,179,000 after purchasing an additional 800 shares during the last quarter. Independent Advisor Alliance grew its position in Warner Bros. Discovery by 23.6% in the 4th quarter. Independent Advisor Alliance now owns 26,354 shares of the company’s stock worth $760,000 after purchasing an additional 5,035 shares during the last quarter. Finally, World Investment Advisors grew its position in Warner Bros. Discovery by 86.8% in the 4th quarter. World Investment Advisors now owns 39,346 shares of the company’s stock worth $1,134,000 after purchasing an additional 18,284 shares during the last quarter. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Bros. Discovery

In related news, insider Gerhard Zeiler sold 600,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 672,649 shares of the company’s stock, valued at $18,847,624.98. This represents a 47.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fazal F. Merchant sold 35,000 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $27.48, for a total transaction of $961,800.00. Following the sale, the director directly owned 95,539 shares of the company’s stock, valued at approximately $2,625,411.72. This represents a 26.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Analysts Set New Price Targets

Several research firms have commented on WBD. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research report on Sunday, March 8th. Weiss Ratings cut shares of Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a research report on Thursday, May 7th. Zacks Research cut shares of Warner Bros. Discovery from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Warner Bros. Discovery from a “buy” rating to a “hold” rating and upped their target price for the stock from $29.50 to $31.00 in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.36.

Warner Bros. Discovery Trading Down 0.5%

Warner Bros. Discovery stock opened at $26.98 on Friday. The firm has a 50 day simple moving average of $27.33 and a 200-day simple moving average of $26.90. 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 stock has a market capitalization of $67.64 billion, a PE ratio of -38.54 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12-month low of $8.82 and a 12-month high of $30.00.

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

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.