Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP reduced its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,305 shares of the company’s stock after selling 52,789 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Warner Bros. Discovery were worth $3,608,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WBD. Principal Financial Group Inc. raised its position in shares of Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Coronation Fund Managers Ltd. increased its stake in Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock valued at $59,660,000 after purchasing an additional 1,981,050 shares during the last quarter. Prudential PLC raised its holdings in shares of Warner Bros. Discovery by 31.1% during the fourth quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after purchasing an additional 32,102 shares during the period. SVB Wealth LLC bought a new position in shares of Warner Bros. Discovery in the 4th quarter worth about $168,000. Finally, Natixis Advisors LLC boosted its holdings in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock valued at $3,076,000 after buying an additional 10,024 shares during the period. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity at Warner Bros. Discovery

In related news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

WBD stock opened at $8.43 on Friday. The firm has a 50 day simple moving average of $9.63 and a 200 day simple moving average of $9.78. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The stock has a market cap of $20.69 billion, a P/E ratio of -1.84, a P/E/G ratio of 8.64 and a beta of 1.43. 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 (NASDAQ:WBD) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion for the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WBD shares. Barclays dropped their price objective on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Warner Bros. Discovery from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Finally, Raymond James cut their target price on Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, April 4th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.01.

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.