CANADA LIFE ASSURANCE Co Sells 76,405 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,047,848 shares of the company's stock after selling 76,405 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.08% of Warner Bros. Discovery worth $21,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC grew its position in shares of Warner Bros. Discovery by 13.4% in the third quarter. Orion Portfolio Solutions LLC now owns 24,644 shares of the company's stock valued at $203,000 after purchasing an additional 2,905 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Warner Bros. Discovery in the 3rd quarter valued at $1,545,000. Tidal Investments LLC grew its holdings in Warner Bros. Discovery by 89.5% in the 3rd quarter. Tidal Investments LLC now owns 142,649 shares of the company's stock valued at $1,177,000 after buying an additional 67,355 shares in the last quarter. Synovus Financial Corp increased its position in Warner Bros. Discovery by 17.3% during the 3rd quarter. Synovus Financial Corp now owns 69,192 shares of the company's stock worth $571,000 after buying an additional 10,199 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Warner Bros. Discovery by 111.0% during the third quarter. Franklin Resources Inc. now owns 375,462 shares of the company's stock worth $2,831,000 after buying an additional 197,528 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Insider Transactions at Warner Bros. Discovery

In other 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 acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company's stock, 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 document filed with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Warner Bros. Discovery Trading Up 2.0 %

WBD traded up $0.17 during trading on Thursday, reaching $8.50. 29,685,390 shares of the company's stock were exchanged, compared to its average volume of 32,895,071. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The firm has a fifty day moving average price of $9.89 and a two-hundred day moving average price of $9.74. The stock has a market capitalization of $20.87 billion, a PE ratio of -1.86, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted 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). The company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on WBD. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their target price on shares of 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. Benchmark reaffirmed a "buy" rating and set a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Raymond James cut their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, April 4th. Finally, Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery currently has an average rating of "Moderate Buy" and a consensus price target of $12.01.

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.