DoubleLine ETF Adviser LP Decreases Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

DoubleLine ETF Adviser LP lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 341,305 shares of the company's stock after selling 52,789 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Warner Bros. Discovery were worth $3,608,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Equity Partners grew its position in Warner Bros. Discovery by 6.5% in the fourth quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock worth $170,000 after buying an additional 986 shares during the last quarter. Colonial Trust Advisors grew its stake in shares of Warner Bros. Discovery by 71.8% in the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after buying an additional 996 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in Warner Bros. Discovery by 12.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock worth $105,000 after purchasing an additional 1,066 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock valued at $169,000 after purchasing an additional 1,101 shares during the period. Finally, Personal CFO Solutions LLC lifted its stake in shares of Warner Bros. Discovery by 2.8% in the fourth quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock valued at $454,000 after buying an additional 1,174 shares during the period. Hedge funds and other institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Performance

WBD traded up $0.11 during midday trading on Friday, hitting $8.54. 31,717,126 shares of the company were exchanged, compared to its average volume of 32,854,479. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of -1.86, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company's 50 day simple moving average is $9.58 and its 200 day simple moving average is $9.82. Warner Bros. Discovery, Inc. has a 1-year low of $6.64 and a 1-year high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share 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 for the quarter, compared to analyst estimates of $10.16 billion. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now directly owns 159,932 shares in the company, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WBD. Barclays decreased their target price on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. KeyCorp reduced their price target on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Barrington Research reissued an "outperform" rating and issued a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Finally, Benchmark reaffirmed a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Ten 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.com, Warner Bros. Discovery presently has an average rating of "Moderate Buy" and a consensus target price of $12.01.

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.