Franklin Resources Inc. Reduces Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Franklin Resources Inc. cut its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,097 shares of the company's stock after selling 68,365 shares during the period. Franklin Resources Inc.'s holdings in Warner Bros. Discovery were worth $3,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC purchased a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $28,000. Ethos Financial Group LLC acquired a new position in shares of Warner Bros. Discovery in the fourth quarter valued at approximately $29,000. Finally, Briaud Financial Planning Inc increased its stake in Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 59.95% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on WBD. Rosenblatt Securities restated a "neutral" rating and issued a $13.00 price target on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Benchmark reiterated a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Finally, Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.66.

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Insiders Place Their Bets

In other news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the purchase, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Performance

WBD traded up $0.23 on Tuesday, hitting $8.25. 38,564,849 shares of the company traded hands, compared to its average volume of 32,522,531. The company has a 50 day moving average of $10.13 and a 200-day moving average of $9.75. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $20.25 billion, a PE ratio of -1.80, a PEG ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). The firm 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%. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

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.