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

Assetmark Inc. grew its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 6,152.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,794 shares of the company's stock after buying an additional 124,766 shares during the quarter. Assetmark Inc.'s holdings in Warner Bros. Discovery were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Keybank National Association OH grew its position in Warner Bros. Discovery by 2.1% during the fourth quarter. Keybank National Association OH now owns 115,207 shares of the company's stock valued at $1,218,000 after buying an additional 2,378 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Warner Bros. Discovery by 16.2% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 17,943 shares of the company's stock valued at $189,000 after purchasing an additional 2,502 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Warner Bros. Discovery by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock valued at $174,904,000 after purchasing an additional 861,656 shares during the period. Steward Partners Investment Advisory LLC increased its position in Warner Bros. Discovery by 7.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 65,162 shares of the company's stock worth $689,000 after buying an additional 4,789 shares in the last quarter. Finally, Wernau Asset Management Inc. bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $202,000. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Warner Bros. Discovery Stock Performance

NASDAQ WBD opened at $10.37 on Wednesday. The business's 50 day moving average price is $10.39 and its 200-day moving average price is $9.43. 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 market cap of $25.46 billion, a P/E ratio of -2.26, a P/E/G ratio of 8.64 and a beta of 1.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Remove Ads

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced 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 firm had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. Sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WBD. KeyCorp increased their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, January 14th. Guggenheim upped their target price 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. Barrington Research reissued an "outperform" rating and set a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. Finally, Benchmark reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.91.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now directly owns 599,317 shares of the company's stock, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the stock in a transaction that occurred on 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 acquisition, 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 position. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Warner Bros. Discovery 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.