Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 46.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 285,070 shares of the company's stock after selling 242,761 shares during the period. Canada Pension Plan Investment Board's holdings in Warner Bros. Discovery were worth $3,013,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WBD. Colonial Trust Advisors increased its holdings in Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after buying an additional 996 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. increased its stake in shares of Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after purchasing an additional 1,940 shares in the last quarter. Graney & King LLC acquired a new position in Warner Bros. Discovery in the 4th quarter worth about $28,000. Finally, Ethos Financial Group LLC purchased a new position in Warner Bros. Discovery during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors 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 company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This trade represents a 12.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Raymond James reduced their target price 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. JPMorgan Chase & Co. increased their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. Wells Fargo & Company cut their target price on shares of Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. Ten investment 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.76.

Warner Bros. Discovery Stock Up 0.1 %

Shares of NASDAQ WBD opened at $7.95 on Wednesday. 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 $19.52 billion, a P/E ratio of -1.74, a P/E/G ratio of 8.64 and a beta of 1.43. The company has a 50 day simple moving average of $9.93 and a 200-day simple moving average of $9.75. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.30). The business had revenue of $10.03 billion during 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%. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share 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.

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