Stone Wealth Partners Invests $1.24 Million in Warner Bros. Discovery, Inc. $WBD

Stone Wealth Partners bought a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,888 shares of the company’s stock, valued at approximately $1,236,000. Warner Bros. Discovery comprises 1.1% of Stone Wealth Partners’ holdings, making the stock its 25th largest holding.

A number of other hedge funds have also modified their holdings of WBD. Norges Bank purchased a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $1,123,807,000. Jericho Capital Asset Management L.P. grew its stake in Warner Bros. Discovery by 108.9% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 35,095,390 shares of the company’s stock valued at $685,413,000 after acquiring an additional 18,291,865 shares in the last quarter. Duquesne Family Office LLC acquired a new stake in Warner Bros. Discovery in the 2nd quarter valued at about $74,916,000. Amundi raised its holdings in Warner Bros. Discovery by 59.6% in the 3rd quarter. Amundi now owns 15,523,538 shares of the company’s stock valued at $296,189,000 after acquiring an additional 5,798,592 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Warner Bros. Discovery in the 3rd quarter worth approximately $100,135,000. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $26.20 on Friday. The company’s 50-day moving average is $27.05 and its two-hundred day moving average is $27.64. Warner Bros. Discovery, Inc. has a 1-year low of $10.27 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $65.69 billion, a price-to-earnings ratio of -37.43 and a beta of 1.54.

Warner Bros. Discovery (NASDAQ:WBD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). The firm had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.89 billion. Warner Bros. Discovery had a negative return on equity of 4.77% and a negative net margin of 4.67%.The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.18) EPS. Analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Guggenheim restated a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Argus cut their price target on Warner Bros. Discovery from $32.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Arete Research reiterated a “neutral” rating and set a $31.25 price objective on shares of Warner Bros. Discovery in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft lowered Warner Bros. Discovery from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $29.50 to $31.00 in a research note on Friday, February 27th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a report on Sunday, March 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.04.

About Warner Bros. Discovery

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.