Legal & General Group Plc Has $129.80 Million Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Legal & General Group Plc cut its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 20.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,279,729 shares of the company's stock after selling 3,117,301 shares during the quarter. Legal & General Group Plc owned 0.50% of Warner Bros. Discovery worth $129,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. increased its stake in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after acquiring an additional 1,940 shares during the last quarter. Graney & King LLC acquired a new position in Warner Bros. Discovery during the fourth quarter valued at approximately $28,000. Ethos Financial Group LLC bought a new stake in Warner Bros. Discovery during the fourth quarter worth $29,000. Finally, Briaud Financial Planning Inc lifted its stake in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after purchasing an additional 2,000 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their target price for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. KeyCorp decreased their price target on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating on the stock in a report on Monday. Raymond James dropped their price objective on shares of 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, Citigroup upped their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.66.

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Insider Activity

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

Warner Bros. Discovery Trading Up 2.6 %

Shares of NASDAQ WBD traded up $0.21 during midday trading on Tuesday, reaching $8.23. The stock had a trading volume of 23,295,889 shares, compared to its average volume of 32,452,751. The company's 50 day moving average price is $10.17 and its 200 day moving average price is $9.76. 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, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of -1.80, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released 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). 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%. As a group, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.