Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 187,921 shares of the company’s stock after selling 5,241 shares during the period. Wellington Management Group LLP’s holdings in Warner Bros. Discovery were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Hauser Brothers GmbH lifted its holdings in Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after buying an additional 440,000 shares in the last quarter. Private Management Group Inc. boosted its position in Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after buying an additional 1,886,868 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Warner Bros. Discovery during the third quarter valued at about $1,474,000. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth about $588,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Down 6.3 %

Warner Bros. Discovery stock opened at $10.63 on Thursday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $26.08 billion, a PE ratio of -2.32 and a beta of 1.52. The firm’s 50 day moving average price is $9.26 and its two-hundred day moving average price is $8.29.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Warner Bros. Discovery’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, research analysts predict that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current fiscal year.

Insider Transactions at Warner Bros. Discovery

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WBD. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a report on Monday, November 11th. Macquarie raised their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a report on Thursday, October 10th. Raymond James raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, December 12th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of “Hold” and a consensus price target of $11.33.

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.