Wedbush Securities Inc. Raises Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Wedbush Securities Inc. grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,310 shares of the company’s stock after acquiring an additional 2,620 shares during the period. Wedbush Securities Inc.’s holdings in Warner Bros. Discovery were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. increased 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 worth $21,281,000 after buying an additional 78,653 shares during the period. Coronation Fund Managers Ltd. increased its stake in Warner Bros. Discovery by 54.1% during the 4th quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after buying an additional 1,981,050 shares during the period. SVB Wealth LLC purchased a new stake in Warner Bros. Discovery during the 4th quarter worth $168,000. Prudential PLC increased its stake in Warner Bros. Discovery by 31.1% during the 4th quarter. Prudential PLC now owns 135,163 shares of the company’s stock worth $1,429,000 after buying an additional 32,102 shares during the period. Finally, Natixis Advisors LLC increased its stake in Warner Bros. Discovery by 3.6% during the 4th quarter. Natixis Advisors LLC now owns 291,006 shares of the company’s stock worth $3,076,000 after buying an additional 10,024 shares during the period. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares of the company’s stock, valued at $1,824,824.12. This represents a 12.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research note on Thursday, December 12th. Citigroup raised 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. Guggenheim raised their price objective on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Benchmark reissued a “buy” rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Finally, Moffett Nathanson raised shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.71.

Warner Bros. Discovery Trading Up 20.4 %

Shares of NASDAQ:WBD opened at $9.26 on Thursday. The company has a market cap of $22.73 billion, a PE ratio of -2.02, a P/E/G ratio of 8.64 and a beta of 1.43. The company’s 50-day moving average price is $10.29 and its 200 day moving average price is $9.76. Warner Bros. Discovery, Inc. has a fifty-two week low of $6.64 and a fifty-two 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 issued its quarterly earnings data 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). The firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Sell-side analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current 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.