Cetera Investment Advisers Cuts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Cetera Investment Advisers decreased its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435,875 shares of the company's stock after selling 35,827 shares during the quarter. Cetera Investment Advisers' holdings in Warner Bros. Discovery were worth $4,607,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WBD. Vanguard Group Inc. boosted its position in shares of Warner Bros. Discovery by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after acquiring an additional 1,658,415 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Warner Bros. Discovery by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after acquiring an additional 1,991,441 shares in the last quarter. Norges Bank acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth about $362,210,000. Slate Path Capital LP boosted its position in shares of Warner Bros. Discovery by 36.6% during the 4th quarter. Slate Path Capital LP now owns 23,801,000 shares of the company's stock worth $251,577,000 after acquiring an additional 6,381,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Warner Bros. Discovery by 7.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,608,829 shares of the company's stock worth $249,545,000 after acquiring an additional 1,725,775 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost 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 approximately $1,824,824.12. This trade represents a 12.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WBD shares. Barclays upped their price objective on Warner Bros. Discovery from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Tuesday. Wells Fargo & Company upped their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a research report on Friday, March 7th. Finally, Benchmark reissued a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.22.

Warner Bros. Discovery Stock Up 0.3%

WBD opened at $9.21 on Thursday. 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 business has a 50 day simple moving average of $9.23 and a 200-day simple moving average of $9.86. The stock has a market capitalization of $22.61 billion, a P/E ratio of -2.01, a P/E/G ratio of 8.64 and a beta of 1.46. 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 posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $8.98 billion during the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.40) earnings per share. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.

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