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

Wellington Management Group LLP lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 70.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. 111 Capital bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth $193,000. Wealth Enhancement Advisory Services LLC grew its stake in Warner Bros. Discovery by 10.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 200,627 shares of the company's stock worth $2,121,000 after buying an additional 18,552 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $14,547,000. Polar Asset Management Partners Inc. bought a new position in Warner Bros. Discovery in the 4th quarter valued at about $3,022,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Warner Bros. Discovery in the 4th quarter valued at approximately $30,000. 59.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Rosenblatt Securities reissued a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, Raymond James dropped their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Warner Bros. Discovery has an average rating of "Moderate Buy" and a consensus price target of $12.17.

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD opened at $9.82 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The firm has a market cap of $24.11 billion, a PE ratio of -2.14, a price-to-earnings-growth ratio of 8.64 and a beta of 1.51. The firm's fifty day moving average is $8.86 and its 200-day moving average is $9.94.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its 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 company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm's quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) earnings per share. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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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