NEOS Investment Management LLC Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

NEOS Investment Management LLC lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,864 shares of the company’s stock after acquiring an additional 62,112 shares during the quarter. NEOS Investment Management LLC’s holdings in Warner Bros. Discovery were worth $3,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. lifted its stake in Warner Bros. Discovery by 313.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock valued at $27,000 after buying an additional 1,940 shares in the last quarter. Graney & King LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at $28,000. Ethos Financial Group LLC acquired a new stake in Warner Bros. Discovery during the 4th quarter valued at $29,000. Finally, Briaud Financial Planning Inc increased its position in Warner Bros. Discovery by 258.1% during the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company’s stock worth $29,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 59.95% of the company’s stock.

Insider Activity

In other news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was acquired 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Trading Down 5.8 %

Shares of WBD stock opened at $10.37 on Friday. 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, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $12.70. The firm’s 50 day moving average price is $10.52 and its two-hundred day moving average price is $9.69. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of -2.26, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion for the quarter, compared to analyst estimates of $10.16 billion. On average, analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on WBD. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Bank of America reiterated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a report on Thursday, December 12th. The Goldman Sachs Group upped their price objective on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Needham & Company LLC restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, KeyCorp increased their price target on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and a consensus price target 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.