LPL Financial LLC Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

LPL Financial LLC lifted its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 22.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 994,319 shares of the company's stock after purchasing an additional 181,176 shares during the period. LPL Financial LLC's holdings in Warner Bros. Discovery were worth $10,510,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WBD. Contrarius Group Holdings Ltd acquired a new position in Warner Bros. Discovery in the fourth quarter valued at approximately $168,930,000. State Street Corp raised its stake in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Amundi lifted its position in Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock valued at $102,120,000 after acquiring an additional 5,272,717 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new position in Warner Bros. Discovery in the fourth quarter valued at $23,825,000. Finally, LBP AM SA purchased a new position in shares of Warner Bros. Discovery during the fourth quarter worth about $21,032,000. 59.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average price of $11.41 per share, with a total value of $197,917.86. Following the completion of the purchase, the director now owns 159,932 shares of the company's stock, valued at approximately $1,824,824.12. This represents a 12.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Remove Ads

Warner Bros. Discovery Price Performance

Shares of NASDAQ:WBD traded down $1.09 during midday trading on Friday, hitting $8.07. 57,325,473 shares of the stock were exchanged, compared to its average volume of 31,945,679. The stock has a market cap of $19.81 billion, a P/E ratio of -1.76, a PEG ratio of 8.64 and a beta of 1.43. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a 50 day moving average price of $10.50 and a 200-day moving average price of $9.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03.

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). The business had revenue of $10.03 billion during the quarter, compared to analyst estimates of $10.16 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

WBD has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Barrington Research reissued an "outperform" rating and set a $16.00 price objective on shares of Warner Bros. Discovery in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Warner Bros. Discovery from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Finally, Moffett Nathanson raised Warner Bros. Discovery from a "neutral" rating to a "buy" rating and upped their price objective for the company from $9.00 to $13.00 in a research note on Tuesday, January 21st. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.96.

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.