Credit Industriel ET Commercial Acquires New Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Credit Industriel ET Commercial acquired a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 110,000 shares of the company's stock, valued at approximately $1,163,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WBD. Golden State Equity Partners raised its holdings in Warner Bros. Discovery by 6.5% during the 4th quarter. Golden State Equity Partners now owns 16,124 shares of the company's stock valued at $170,000 after acquiring an additional 986 shares during the period. Colonial Trust Advisors grew its position in shares of Warner Bros. Discovery by 71.8% in the fourth quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock valued at $25,000 after purchasing an additional 996 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Warner Bros. Discovery by 12.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 9,925 shares of the company's stock valued at $105,000 after purchasing an additional 1,066 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in Warner Bros. Discovery by 7.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 15,995 shares of the company's stock worth $169,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its stake in Warner Bros. Discovery by 2.8% in the 4th quarter. Personal CFO Solutions LLC now owns 42,935 shares of the company's stock worth $454,000 after purchasing an additional 1,174 shares during the period. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on WBD. 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 report on Friday, April 4th. Citigroup lifted their target price on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Rosenblatt Securities restated a "neutral" rating and set a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Benchmark reaffirmed a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a research note on Wednesday, February 26th. Finally, Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a report on Friday, February 28th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.01.

Warner Bros. Discovery Stock Up 1.1 %

Shares of NASDAQ WBD traded up $0.09 on Friday, reaching $8.59. 24,510,405 shares of the company's stock traded hands, compared to its average volume of 32,999,193. 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 business's 50 day simple moving average is $9.81 and its two-hundred day simple moving average is $9.77. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market cap of $21.09 billion, a price-to-earnings ratio of -1.88, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $10.16 billion. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company 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.