Capco Asset Management LLC Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Capco Asset Management LLC reduced its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 3,001,601 shares of the company’s stock after selling 26,316 shares during the period. Warner Bros. Discovery makes up approximately 7.1% of Capco Asset Management LLC’s investment portfolio, making the stock its 6th largest position. Capco Asset Management LLC’s holdings in Warner Bros. Discovery were worth $31,727,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $26,000. SRS Capital Advisors Inc. lifted its stake in shares of Warner Bros. Discovery by 313.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter worth $29,000. Briaud Financial Planning Inc lifted its stake in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Sugar Maple Asset Management LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter valued at about $33,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WBD shares. Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Bank of America reaffirmed a “buy” rating and set a $14.00 target price on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. The Goldman Sachs Group raised their price objective on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, KeyCorp raised their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $10.74 on Friday. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $26.36 billion, a P/E ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. The stock’s fifty day moving average is $10.40 and its two-hundred day moving average is $9.56.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Equities analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.