EverSource Wealth Advisors LLC Increases Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

EverSource Wealth Advisors LLC boosted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 522.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,301 shares of the company’s stock after purchasing an additional 14,521 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Warner Bros. Discovery were worth $183,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WBD. Hauser Brothers GmbH lifted its stake in Warner Bros. Discovery by 56.1% during the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after acquiring an additional 440,000 shares during the period. Principal Financial Group Inc. lifted its stake in Warner Bros. Discovery by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock valued at $21,281,000 after acquiring an additional 78,653 shares during the period. Erste Asset Management GmbH bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at $1,474,000. Blueshift Asset Management LLC bought a new position in shares of Warner Bros. Discovery during the 3rd quarter valued at $588,000. Finally, Natixis Advisors LLC boosted its stake in shares of Warner Bros. Discovery by 22.7% in the 3rd quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after buying an additional 52,051 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average price 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. This trade represents a 12.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on WBD. Citigroup increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Bank of America reissued a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays lifted their price target on shares of Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price objective on shares of Warner Bros. Discovery in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Warner Bros. Discovery has an average rating of “Moderate Buy” and a consensus target price of $11.91.

Warner Bros. Discovery Price Performance

WBD stock opened at $10.19 on Monday. Warner Bros. Discovery, Inc. has a one year low of $6.64 and a one year high of $12.70. The company’s fifty day moving average price is $10.36 and its 200-day moving average price is $9.49. 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 company has a market capitalization of $25.01 billion, a PE ratio of -2.22, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $10.16 billion. On average, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

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.