White Pine Capital LLC Sells 3,534 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

White Pine Capital LLC cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 25,979 shares of the company’s stock after selling 3,534 shares during the period. White Pine Capital LLC’s holdings in Warner Bros. Discovery were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WBD. Caprock Group LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter worth $160,000. UMB Bank n.a. lifted its position in shares of Warner Bros. Discovery by 121.8% during the third quarter. UMB Bank n.a. now owns 14,051 shares of the company’s stock worth $153,000 after purchasing an additional 7,716 shares during the last quarter. Czech National Bank lifted its position in shares of Warner Bros. Discovery by 47.7% during the third quarter. Czech National Bank now owns 387,664 shares of the company’s stock worth $4,210,000 after purchasing an additional 125,233 shares during the last quarter. Clarius Group LLC bought a new stake in shares of Warner Bros. Discovery during the third quarter worth $125,000. Finally, U.S. Capital Wealth Advisors LLC lifted its position in shares of Warner Bros. Discovery by 7.7% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 146,158 shares of the company’s stock worth $1,587,000 after purchasing an additional 10,426 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on WBD shares. Morgan Stanley decreased their price objective on Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Wells Fargo & Company downgraded Warner Bros. Discovery from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $16.00 to $12.00 in a report on Monday, January 29th. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a report on Thursday, January 11th. Barclays decreased their price objective on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Finally, Macquarie cut their target price on Warner Bros. Discovery from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Stock Performance

NASDAQ WBD traded down $0.18 during trading hours on Friday, reaching $8.11. The stock had a trading volume of 19,754,363 shares, compared to its average volume of 25,568,130. The stock has a fifty day moving average of $8.62 and a 200 day moving average of $9.97. The stock has a market cap of $19.79 billion, a P/E ratio of -6.34 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 52-week low of $8.02 and a 52-week high of $14.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 0.93.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Friday, February 23rd. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The firm had revenue of $10.28 billion during the quarter, compared to analysts’ expectations of $10.34 billion. Warner Bros. Discovery had a negative net margin of 7.57% and a negative return on equity of 3.48%. Warner Bros. Discovery’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -0.33 earnings per share for the current year.

Warner Bros. Discovery Profile

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.