Heron Bay Capital Management Raises Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Heron Bay Capital Management grew its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,145,169 shares of the company’s stock after acquiring an additional 16,500 shares during the quarter. Warner Bros. Discovery comprises approximately 2.5% of Heron Bay Capital Management’s portfolio, making the stock its 16th biggest position. Heron Bay Capital Management’s holdings in Warner Bros. Discovery were worth $12,104,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WBD. Hauser Brothers GmbH increased its position in Warner Bros. Discovery by 56.1% in 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. grew its stake in shares of Warner Bros. Discovery by 3.1% in the 3rd 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 during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Warner Bros. Discovery in the third quarter valued at approximately $1,474,000. Blueshift Asset Management LLC purchased a new stake in shares of Warner Bros. Discovery during the third quarter worth approximately $588,000. Finally, Natixis Advisors LLC lifted its holdings in shares of Warner Bros. Discovery by 22.7% during the third quarter. Natixis Advisors LLC now owns 280,982 shares of the company’s stock worth $2,318,000 after purchasing an additional 52,051 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Up 0.8 %

Shares of NASDAQ:WBD opened at $10.74 on Friday. The company has a market capitalization of $26.36 billion, a P/E ratio of -2.34, a P/E/G ratio of 8.64 and a beta of 1.48. The stock’s fifty day simple moving average is $10.40 and its 200-day simple moving average is $9.58. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week 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) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insider Activity at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on WBD. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Bank of America reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Warner Bros. Discovery in a report on Thursday, December 12th. The Goldman Sachs Group increased their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays lifted their price target on Warner Bros. Discovery from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, KeyCorp increased their price objective on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.91.

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.