Warner Bros. Discovery, Inc. $WBD Holdings Lowered by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP has reduced its stake in Warner Bros. Discovery by 17.3%, now holding 282,344 shares worth approximately $3.03 million.
• Several hedge funds have recently acquired new positions in Warner Bros. Discovery, contributing to institutional investors owning 59.95% of the company's stock.
• Warner Bros. Discovery reported earnings of $0.63 per share for the latest quarter, significantly beating analysts' expectations of a loss, while the company's revenue rose by 1% year-over-year.

DoubleLine ETF Adviser LP trimmed its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 17.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,344 shares of the company's stock after selling 58,961 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Warner Bros. Discovery were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 9.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 14,955 shares of the company's stock valued at $160,000 after acquiring an additional 1,318 shares during the last quarter. CX Institutional increased its holdings in shares of Warner Bros. Discovery by 5.7% in the 1st quarter. CX Institutional now owns 27,324 shares of the company's stock valued at $293,000 after acquiring an additional 1,465 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in shares of Warner Bros. Discovery by 9.0% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 18,825 shares of the company's stock valued at $202,000 after acquiring an additional 1,561 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 2.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 62,966 shares of the company's stock valued at $676,000 after acquiring an additional 1,588 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Warner Bros. Discovery by 8.9% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 19,756 shares of the company's stock valued at $212,000 after acquiring an additional 1,618 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

Shares of Warner Bros. Discovery stock traded up $0.34 during trading on Friday, hitting $12.11. The stock had a trading volume of 63,862,263 shares, compared to its average volume of 45,631,712. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $29.98 billion, a P/E ratio of 40.37, a PEG ratio of 1.61 and a beta of 1.59. The business has a fifty day moving average of $12.07 and a two-hundred day moving average of $10.53. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $13.86.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a return on equity of 2.14% and a net margin of 2.00%.The company's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.07) earnings per share. On average, sell-side analysts expect 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 brokerages recently commented on WBD. Bank of America upped their price objective on Warner Bros. Discovery from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Benchmark restated a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Tuesday, June 10th. Barrington Research reiterated an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a research report on Wednesday, July 30th. Finally, Citigroup reduced their price target on Warner Bros. Discovery from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $13.14.

Insider Buying and Selling at Warner Bros. Discovery

In other news, Director Anton J. Levy acquired 75,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $11.00 per share, for a total transaction of $825,000.00. Following the completion of the acquisition, the director directly owned 949,000 shares in the company, valued at $10,439,000. This represents a 8.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

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.