Los Angeles Capital Management LLC Has $1.98 Million Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Los Angeles Capital Management LLC lifted its stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 1,586.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,526 shares of the company's stock after buying an additional 176,408 shares during the quarter. Los Angeles Capital Management LLC's holdings in Warner Bros. Discovery were worth $1,982,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in WBD. Stonebridge Financial Group LLC bought a new position in shares of Warner Bros. Discovery during the fourth quarter valued at approximately $26,000. Sugar Maple Asset Management LLC acquired a new position in Warner Bros. Discovery during the 4th quarter valued at approximately $33,000. New Wave Wealth Advisors LLC bought a new position in Warner Bros. Discovery during the 4th quarter worth $37,000. Larson Financial Group LLC increased its holdings in shares of Warner Bros. Discovery by 54.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company's stock worth $41,000 after acquiring an additional 1,754 shares during the period. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Warner Bros. Discovery by 448.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company's stock valued at $48,000 after buying an additional 3,743 shares during the last quarter. Institutional investors own 59.95% of the company's stock.

Warner Bros. Discovery Stock Up 2.9 %

WBD traded up $0.33 on Tuesday, reaching $11.35. 28,271,558 shares of the company traded hands, compared to its average volume of 30,004,635. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $27.83 billion, a price-to-earnings ratio of -2.48, a PEG ratio of 8.64 and a beta of 1.49. The stock's 50 day moving average price is $10.34 and its 200-day moving average price is $9.31.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di purchased 17,346 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were bought at an average price of $11.41 per share, for a total transaction of $197,917.86. Following the purchase, the director now directly owns 159,932 shares in the company, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Savalle Sims sold 169,436 shares of Warner Bros. Discovery stock in a transaction 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders own 1.80% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on WBD. Macquarie increased 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. Benchmark reiterated a "buy" rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Wednesday, February 26th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday. KeyCorp increased their price objective 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. Finally, Barrington Research reissued an "outperform" rating and set a $16.00 target price on shares of Warner Bros. Discovery in a report on Thursday, February 27th. Ten 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.75.

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.