Empirical Asset Management LLC Acquires New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Empirical Asset Management LLC purchased a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 88,799 shares of the company's stock, valued at approximately $939,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WBD. American Century Companies Inc. boosted its stake in shares of Warner Bros. Discovery by 4.3% during the 2nd quarter. American Century Companies Inc. now owns 454,013 shares of the company's stock worth $3,378,000 after purchasing an additional 18,888 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Warner Bros. Discovery by 18.7% during the second quarter. Envestnet Asset Management Inc. now owns 1,818,685 shares of the company's stock worth $13,531,000 after acquiring an additional 286,654 shares during the last quarter. Wealth Alliance grew its stake in Warner Bros. Discovery by 10.5% in the 2nd quarter. Wealth Alliance now owns 18,775 shares of the company's stock worth $140,000 after acquiring an additional 1,789 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Warner Bros. Discovery by 8.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,583 shares of the company's stock valued at $265,000 after acquiring an additional 2,849 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Warner Bros. Discovery by 44.8% during the 2nd quarter. Amalgamated Bank now owns 668,327 shares of the company's stock worth $4,972,000 after purchasing an additional 206,694 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery 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 in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

Warner Bros. Discovery Stock Performance

Shares of WBD traded up $0.05 during mid-day trading on Friday, reaching $9.52. 19,351,313 shares of the company's stock traded hands, compared to its average volume of 22,680,758. The business's 50-day moving average price is $10.37 and its 200-day moving average price is $8.74. The stock has a market capitalization of $23.35 billion, a P/E ratio of -2.08, a price-to-earnings-growth ratio of 9.12 and a beta of 1.50. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WBD shares. Barclays raised their price target on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. Bank of America reissued a "buy" rating and issued a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Macquarie upped their price target on shares of Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Raymond James increased their price target on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Guggenheim upped their price objective on Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a "buy" rating in a report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.56.

Warner Bros. Discovery Company 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.