First Trust Advisors LP Sells 3,763,206 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

First Trust Advisors LP lowered its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 56.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,848,587 shares of the company's stock after selling 3,763,206 shares during the quarter. First Trust Advisors LP owned approximately 0.12% of Warner Bros. Discovery worth $30,110,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Warner Bros. Discovery by 3.1% during the third 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. Coronation Fund Managers Ltd. lifted its holdings in Warner Bros. Discovery by 54.1% in the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock worth $59,660,000 after purchasing an additional 1,981,050 shares in the last quarter. Prudential PLC boosted its stake in Warner Bros. Discovery by 31.1% in the 4th quarter. Prudential PLC now owns 135,163 shares of the company's stock worth $1,429,000 after purchasing an additional 32,102 shares during the period. SVB Wealth LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter valued at approximately $168,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 3.6% in the fourth quarter. Natixis Advisors LLC now owns 291,006 shares of the company's stock worth $3,076,000 after buying an additional 10,024 shares in the last quarter. Institutional investors own 59.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WBD. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Tuesday, January 14th. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their price target for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barclays cut their price target on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and a consensus price target of $12.01.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.80% of the company's stock.

Warner Bros. Discovery Trading Down 1.1 %

WBD stock traded down $0.10 during midday trading on Wednesday, reaching $8.67. The company's stock had a trading volume of 40,866,071 shares, compared to its average volume of 32,878,790. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of -1.89, a PEG ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a fifty day simple moving average of $9.68 and a two-hundred day simple moving average of $9.78.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) 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 company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. On average, equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

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.