Friedenthal Financial Acquires New Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Friedenthal Financial bought a new position in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 73,203 shares of the company's stock, valued at approximately $774,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank raised its holdings in shares of Warner Bros. Discovery by 2.4% during the third quarter. Commerce Bank now owns 55,963 shares of the company's stock valued at $462,000 after acquiring an additional 1,286 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Warner Bros. Discovery by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 183,462 shares of the company's stock worth $1,939,000 after purchasing an additional 1,387 shares during the period. GAM Holding AG increased its position in shares of Warner Bros. Discovery by 0.3% during the third quarter. GAM Holding AG now owns 457,685 shares of the company's stock valued at $3,776,000 after buying an additional 1,437 shares during the period. Waldron Private Wealth LLC raised its stake in Warner Bros. Discovery by 5.4% in the third quarter. Waldron Private Wealth LLC now owns 28,348 shares of the company's stock worth $234,000 after buying an additional 1,461 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in Warner Bros. Discovery by 1.4% in the third quarter. PFG Investments LLC now owns 112,307 shares of the company's stock worth $927,000 after buying an additional 1,517 shares during the period. 59.95% of the stock is currently owned by institutional investors.

Warner Bros. Discovery Price Performance

WBD traded up $0.14 during trading on Monday, reaching $9.84. 27,055,372 shares of the company traded hands, compared to its average volume of 28,612,326. The company has a market cap of $24.14 billion, a P/E ratio of -2.15 and a beta of 1.52. 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 12-month low of $6.64 and a 12-month high of $12.70. The firm has a fifty day simple moving average of $10.26 and a 200 day simple moving average of $8.65.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business's revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 EPS for the current year.

Insider Activity at Warner Bros. Discovery

In other news, insider Savalle Sims sold 169,436 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now owns 599,317 shares of the company's stock, 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 can be accessed through the SEC website. 1.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WBD shares. 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. KeyCorp lifted their target price 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. Macquarie upped their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a "hold" rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Finally, Barrington Research reissued an "outperform" rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research note on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $11.46.

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.