Commonwealth Equity Services LLC Trims Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Commonwealth Equity Services LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 8.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 537,843 shares of the company's stock after selling 52,437 shares during the period. Commonwealth Equity Services LLC's holdings in Warner Bros. Discovery were worth $5,685,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WBD. Hauser Brothers GmbH boosted its stake in Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company's stock valued at $10,106,000 after acquiring an additional 440,000 shares during the last quarter. Principal Financial Group Inc. grew its position in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock worth $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Warner Bros. Discovery in the 3rd quarter worth approximately $1,474,000. Blueshift Asset Management LLC bought a new stake in shares of Warner Bros. Discovery in the 3rd quarter worth approximately $588,000. Finally, Natixis Advisors LLC boosted its position in Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company's stock valued at $2,318,000 after buying an additional 52,051 shares during the period. Institutional investors own 59.95% of the company's stock.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is owned by company insiders.

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Wall Street Analysts Forecast Growth

WBD has been the topic of several analyst reports. Barclays lifted their target price on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Guggenheim raised their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a "buy" rating in a research note on Thursday, December 12th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research report on Friday, March 7th. KeyCorp increased their price objective on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Finally, Barrington Research restated an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.91.

Warner Bros. Discovery Price Performance

WBD stock traded up $0.05 during trading on Wednesday, reaching $11.03. The company's stock had a trading volume of 32,248,623 shares, compared to its average volume of 30,460,984. The company's fifty day moving average is $10.45 and its 200-day moving average is $9.65. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a market capitalization of $27.08 billion, a P/E ratio of -2.41, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. On average, research analysts expect that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

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.