Toronto Dominion Bank Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Toronto Dominion Bank increased its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,280,780 shares of the company’s stock after buying an additional 129,237 shares during the period. Toronto Dominion Bank owned 0.05% of Warner Bros. Discovery worth $13,538,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Advisors raised its position in Warner Bros. Discovery by 71.8% during the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company’s stock worth $25,000 after acquiring an additional 996 shares during the period. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery during the fourth quarter worth $26,000. SRS Capital Advisors Inc. raised its position in Warner Bros. Discovery by 313.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $27,000 after acquiring an additional 1,940 shares during the period. Graney & King LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $28,000. Finally, Ethos Financial Group LLC acquired a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $29,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WBD shares. Wells Fargo & Company increased their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Morgan Stanley reduced their target price on shares of Warner Bros. Discovery from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Moffett Nathanson upgraded 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 research report on Tuesday, January 21st. KeyCorp cut their price objective on shares of 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. Finally, Raymond James cut their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, April 4th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.22.

Insiders Place Their Bets

In related news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

Warner Bros. Discovery Stock Down 1.2%

Shares of Warner Bros. Discovery stock opened at $9.05 on Tuesday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a 50 day moving average of $9.15 and a 200 day moving average of $9.91. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $22.22 billion, a P/E ratio of -1.98, a P/E/G ratio of 8.64 and a beta of 1.46.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). 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 $8.98 billion for the quarter, compared to analyst estimates of $9.66 billion. During the same period in the previous year, the business posted ($0.40) EPS. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, research analysts forecast 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.