Inlight Wealth Management LLC Invests $2.51 Million in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Inlight Wealth Management LLC acquired a new position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 248,248 shares of the company's stock, valued at approximately $2,512,000. Warner Bros. Discovery makes up about 0.8% of Inlight Wealth Management LLC's holdings, making the stock its 27th largest position.

A number of other hedge funds also recently added to or reduced their stakes in WBD. Quinn Opportunity Partners LLC purchased a new position in Warner Bros. Discovery during the 4th quarter valued at about $2,220,000. Colonial Trust Advisors raised its position in shares of Warner Bros. Discovery by 71.8% during the 4th quarter. Colonial Trust Advisors now owns 2,383 shares of the company's stock worth $25,000 after purchasing an additional 996 shares during the last quarter. Bessemer Group Inc. lifted its stake in Warner Bros. Discovery by 11.4% in the 4th quarter. Bessemer Group Inc. now owns 13,047 shares of the company's stock valued at $139,000 after buying an additional 1,338 shares in the last quarter. CenterBook Partners LP purchased a new position in Warner Bros. Discovery during the fourth quarter worth $4,537,000. Finally, APG Asset Management N.V. lifted its position in shares of Warner Bros. Discovery by 495.2% in the fourth quarter. APG Asset Management N.V. now owns 1,370,616 shares of the company's stock valued at $13,991,000 after acquiring an additional 1,140,325 shares in the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Warner Bros. Discovery Price Performance

Shares of NASDAQ WBD traded up $0.23 during trading on Tuesday, hitting $8.25. The company had a trading volume of 38,562,585 shares, compared to its average volume of 37,674,227. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The business's 50-day moving average is $10.17 and its 200 day moving average is $9.76. The company has a market cap of $20.25 billion, a P/E ratio of -1.80, a PEG ratio of 8.64 and a beta of 1.43. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80.

Remove Ads

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last announced its 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). The company had revenue of $10.03 billion for the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. Equities research analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WBD has been the subject of a number of recent research reports. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and boosted their target price for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Barrington Research reiterated an "outperform" rating and issued a $16.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, March 5th. KeyCorp lowered their price objective on Warner Bros. Discovery from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday. Barclays cut their price objective on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.66.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was purchased at an average cost of $11.41 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company's stock.

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.