ProShare Advisors LLC Trims Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

ProShare Advisors LLC lowered its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 39.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,122,000 shares of the company's stock after selling 2,038,588 shares during the quarter. ProShare Advisors LLC owned about 0.13% of Warner Bros. Discovery worth $33,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Colonial Trust Advisors increased its position in shares of Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after buying an additional 996 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock worth $27,000 after purchasing an additional 1,940 shares during the period. Graney & King LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth about $28,000. Finally, Ethos Financial Group LLC purchased a new stake in Warner Bros. Discovery in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Down 0.8%

Shares of Warner Bros. Discovery stock opened at $9.14 on Friday. The company has a market cap of $22.44 billion, a price-to-earnings ratio of -2.00, a price-to-earnings-growth ratio of 8.64 and a beta of 1.46. The company's 50 day moving average is $9.20 and its 200 day moving average is $9.87. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $8.98 billion for the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter last year, the company earned ($0.40) EPS. The firm's revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WBD shares. Citigroup upped their price objective on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Morgan Stanley cut their price objective on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Barrington Research reiterated an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Tuesday. Finally, Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of "Moderate Buy" and an average target price of $12.22.

Warner Bros. Discovery Company 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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