CIBC Private Wealth Group LLC Buys 42,015 Shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD)

CIBC Private Wealth Group LLC increased its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,119 shares of the company's stock after buying an additional 42,015 shares during the period. CIBC Private Wealth Group LLC's holdings in Warner Bros. Discovery were worth $1,661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in WBD. Allianz SE acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $2,733,000. Allstate Corp acquired a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $726,000. DnB Asset Management AS increased its stake in Warner Bros. Discovery by 295.4% in the fourth quarter. DnB Asset Management AS now owns 1,519,337 shares of the company's stock valued at $16,059,000 after acquiring an additional 1,135,063 shares during the last quarter. Level Four Advisory Services LLC raised its position in Warner Bros. Discovery by 7.6% during the fourth quarter. Level Four Advisory Services LLC now owns 26,503 shares of the company's stock valued at $280,000 after purchasing an additional 1,866 shares in the last quarter. Finally, Norges Bank bought a new stake in Warner Bros. Discovery during the fourth quarter worth $362,210,000. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Stock Down 11.9 %

WBD stock traded down $1.09 during trading on Friday, reaching $8.07. 57,325,473 shares of the stock were exchanged, compared to its average volume of 31,945,679. The firm has a market cap of $19.81 billion, a P/E ratio of -1.76, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48. The firm's 50 day moving average is $10.50 and its 200 day moving average is $9.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70.

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Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WBD. Citigroup boosted their price target on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, December 10th. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Finally, Raymond James decreased their target price on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday. 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.96.

Insider Activity

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the acquisition, the director now owns 159,932 shares of the company's stock, valued at $1,824,824.12. The trade was a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is currently owned by corporate 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.