Pictet Asset Management Holding SA Sells 25,228 Shares of Warner Bros. Discovery, Inc. $WBD

Pictet Asset Management Holding SA trimmed its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,187,245 shares of the company’s stock after selling 25,228 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Warner Bros. Discovery were worth $32,591,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Swiss RE Ltd. acquired a new position in shares of Warner Bros. Discovery during the fourth quarter valued at about $26,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $29,000. MV Capital Management Inc. acquired a new stake in shares of Warner Bros. Discovery in the 4th quarter worth about $30,000. Rakuten Securities Inc. raised its holdings in shares of Warner Bros. Discovery by 81.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the last quarter. Finally, TOWER TRUST & INVESTMENT Co lifted its position in 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 valued at $36,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analyst Ratings Changes

WBD has been the subject of a number of analyst reports. KeyCorp reiterated an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Huber Research raised Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings lowered Warner Bros. Discovery from a “hold (c-)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. UBS Group lifted their target price on Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Argus decreased their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of “Hold” and a consensus price target of $27.04.

Warner Bros. Discovery Trading Down 1.7%

Shares of WBD stock opened at $26.66 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $10.76 and a 52-week high of $30.00. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day simple moving average of $26.95 and a two-hundred day simple moving average of $27.68. The company has a market capitalization of $66.84 billion, a price-to-earnings ratio of -38.09 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $8.89 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter last year, the business posted ($0.18) EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -1.07 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.