Capricorn Fund Managers Ltd Sells 55,729 Shares of Warner Bros. Discovery, Inc. $WBD

Capricorn Fund Managers Ltd lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 34.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 107,939 shares of the company’s stock after selling 55,729 shares during the period. Capricorn Fund Managers Ltd’s holdings in Warner Bros. Discovery were worth $2,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Swiss RE Ltd. acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter worth $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $29,000. MV Capital Management Inc. acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $30,000. Rakuten Securities Inc. increased its stake 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 acquiring an additional 521 shares during the period. Finally, JPL Wealth Management LLC acquired a new position in Warner Bros. Discovery in the 3rd quarter valued at approximately $33,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $26.66 on Wednesday. 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 company has a market capitalization of $66.84 billion, a PE ratio of -38.09 and a beta of 1.54. Warner Bros. Discovery, Inc. has a one year low of $10.76 and a one year high of $30.00. The business has a 50 day simple moving average of $26.95 and a 200 day simple moving average of $27.68.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share 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 the consensus estimate of $8.89 billion. During the same quarter last year, the company earned ($0.18) earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WBD shares. KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research note on Friday, April 24th. Huber Research upgraded shares of Warner Bros. Discovery from an “underweight” rating to an “overweight” rating in a research note on Monday, June 1st. Seaport Research Partners raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Monday. UBS Group increased their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Moffett Nathanson raised shares of Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of “Hold” and an average target price of $27.04.

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.