Wellington Management Group LLP Sells 132,704 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wellington Management Group LLP cut its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 70.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,217 shares of the company's stock after selling 132,704 shares during the period. Wellington Management Group LLP's holdings in Warner Bros. Discovery were worth $584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Warner Bros. Discovery by 85.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 131,910 shares of the company's stock valued at $1,394,000 after purchasing an additional 60,836 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Warner Bros. Discovery by 34.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 165,119 shares of the company's stock valued at $1,661,000 after buying an additional 42,015 shares in the last quarter. Allianz SE bought a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $2,733,000. Allstate Corp acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter valued at about $726,000. Finally, DnB Asset Management AS increased its stake in Warner Bros. Discovery by 295.4% in the fourth quarter. DnB Asset Management AS now owns 1,519,337 shares of the company's stock valued at $16,059,000 after acquiring an additional 1,135,063 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.

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 shares were acquired at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery Trading Up 2.4 %

Shares of NASDAQ WBD traded up $0.19 during mid-day trading on Friday, hitting $8.11. The company's stock had a trading volume of 31,292,791 shares, compared to its average volume of 32,629,376. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. 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 stock has a market cap of $19.91 billion, a price-to-earnings ratio of -1.77, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The company's fifty day simple moving average is $10.04 and its 200-day simple moving average is $9.74.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Rosenblatt Securities reaffirmed a "neutral" rating and set a $13.00 price objective on shares of Warner Bros. Discovery in a report on Friday, March 7th. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barrington Research reiterated an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, March 5th. The Goldman Sachs Group boosted their target price on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $11.76.

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.