Regatta Capital Group LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Regatta Capital Group LLC lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 58.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,285 shares of the company’s stock after selling 42,859 shares during the period. Regatta Capital Group LLC’s holdings in Warner Bros. Discovery were worth $320,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its stake in Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. lifted its position in shares of Warner Bros. Discovery by 24.7% in the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company’s stock valued at $22,391,000 after purchasing an additional 2,780,986 shares in the last quarter. Drexel Morgan & Co. raised its stake in Warner Bros. Discovery by 43.5% in the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after buying an additional 2,000,000 shares in the last quarter. Finally, Clifford Capital Partners LLC bought a new stake in Warner Bros. Discovery during the 2nd quarter valued at approximately $14,760,000. Institutional investors own 59.95% of the company’s stock.

Insider Activity

In related news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.25 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company’s 50 day moving average is $10.42 and its two-hundred day moving average is $8.82.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. 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 $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm earned ($0.17) EPS. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WBD shares. Raymond James raised their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. 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 research report on Thursday, December 19th. Barclays increased their price target on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Macquarie raised their price objective on Warner Bros. Discovery from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.76.

Warner Bros. Discovery Company 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.