Essential Planning LLC. Invests $731,000 in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Essential Planning LLC. purchased a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 69,155 shares of the company's stock, valued at approximately $731,000.

A number of other institutional investors also recently made changes to their positions in the stock. Stonebridge Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $26,000. SRS Capital Advisors Inc. increased its stake in Warner Bros. Discovery by 313.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,559 shares of the company's stock valued at $27,000 after purchasing an additional 1,940 shares during the last quarter. Ethos Financial Group LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $29,000. Briaud Financial Planning Inc increased its stake in Warner Bros. Discovery by 258.1% in the fourth quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock valued at $29,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $33,000. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the business's stock in a transaction on Monday, March 3rd. The shares were purchased at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the completion of the purchase, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their price target for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Bank of America reissued a "buy" rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research 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 research report on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a research report on Thursday, December 19th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery has a consensus rating of "Moderate Buy" and an average target price of $11.91.

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Warner Bros. Discovery Trading Down 5.1 %

NASDAQ:WBD opened at $9.89 on Friday. 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, Inc. has a one year low of $6.64 and a one year high of $12.70. The business's 50-day simple moving average is $10.38 and its 200 day simple moving average is $9.45. The stock has a market cap of $24.28 billion, a price-to-earnings ratio of -2.16, a price-to-earnings-growth ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

About Warner Bros. Discovery

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.

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