Fmr LLC Sells 1,424,115 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

FMR LLC lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 36.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,468,409 shares of the company's stock after selling 1,424,115 shares during the period. FMR LLC owned 0.10% of Warner Bros. Discovery worth $20,364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WBD. Principal Financial Group Inc. increased its stake in Warner Bros. Discovery by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company's stock valued at $21,281,000 after purchasing an additional 78,653 shares in the last quarter. Private Management Group Inc. increased its stake in shares of Warner Bros. Discovery by 37.7% during the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company's stock worth $56,811,000 after purchasing an additional 1,886,868 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Warner Bros. Discovery by 22.7% in the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company's stock worth $2,318,000 after acquiring an additional 52,051 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Warner Bros. Discovery by 1,216.7% during the 2nd quarter. Mackenzie Financial Corp now owns 3,009,558 shares of the company's stock worth $22,391,000 after buying an additional 2,780,986 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Warner Bros. Discovery by 629.4% in the third quarter. International Assets Investment Management LLC now owns 189,239 shares of the company's stock valued at $1,561,000 after buying an additional 163,295 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a report on Friday, September 13th. Sanford C. Bernstein downgraded Warner Bros. Discovery from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $10.00 to $8.00 in a research note on Tuesday, August 13th. Wolfe Research upgraded shares of Warner Bros. Discovery from an "underperform" rating to a "peer perform" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Monday, October 7th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.71.

Warner Bros. Discovery Price Performance

NASDAQ WBD traded down $0.07 on Wednesday, hitting $10.82. The company had a trading volume of 23,523,198 shares, compared to its average volume of 29,373,451. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company's fifty day moving average price is $8.87 and its 200-day moving average price is $8.16. The company has a market capitalization of $26.54 billion, a PE ratio of -2.38 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 12-month low of $6.64 and a 12-month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery's revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current 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.