West Tower Group LLC Has $2.70 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

West Tower Group LLC lessened its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 26.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 255,745 shares of the company’s stock after selling 89,876 shares during the period. Warner Bros. Discovery accounts for about 6.0% of West Tower Group LLC’s investment portfolio, making the stock its 2nd biggest holding. West Tower Group LLC’s holdings in Warner Bros. Discovery were worth $2,703,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp boosted its stake in shares of Warner Bros. Discovery by 4.1% in the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares during the period. Sessa Capital IM L.P. boosted its stake in shares of Warner Bros. Discovery by 24.7% in the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares during the period. EdgePoint Investment Group Inc. boosted its stake in shares of Warner Bros. Discovery by 2.6% in the third quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after acquiring an additional 541,192 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Warner Bros. Discovery by 1.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after acquiring an additional 329,620 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company’s stock worth $174,904,000 after acquiring an additional 861,656 shares during the period. Institutional investors own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Down 0.9 %

Shares of NASDAQ:WBD opened at $10.39 on Wednesday. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The stock has a market cap of $25.50 billion, a P/E ratio of -2.27, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The business’s 50 day moving average is $10.35 and its 200 day moving average is $9.53. 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 announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (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 firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WBD shares. Guggenheim boosted their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Bank of America reiterated a “buy” rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Barclays boosted their target price on Warner Bros. Discovery from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Needham & Company LLC reiterated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Ten investment 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.91.

Insider Buying and Selling at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction dated Monday, March 3rd. The stock was purchased at an average price of $11.41 per share, with a total value of $197,917.86. Following the transaction, the director now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

About Warner Bros. Discovery

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.