Resona Asset Management Co. Ltd. acquired a new stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 676,376 shares of the company's stock, valued at approximately $7,153,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of Warner Bros. Discovery during the 4th quarter worth $26,000. SRS Capital Advisors Inc. lifted its holdings in shares of 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 in the last quarter. Graney & King LLC purchased a new stake in shares of Warner Bros. Discovery in the fourth quarter valued at about $28,000. Ethos Financial Group LLC purchased a new position in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. Finally, Briaud Financial Planning Inc increased its stake in shares of Warner Bros. Discovery by 258.1% during the 4th quarter. Briaud Financial Planning Inc now owns 2,775 shares of the company's stock worth $29,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company's stock.
Insiders Place Their Bets
In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $11.41 per share, with a total value of $197,917.86. Following the completion of the transaction, the director now owns 159,932 shares in the company, valued at $1,824,824.12. The trade was a 12.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
Warner Bros. Discovery Stock Down 1.6 %
Warner Bros. Discovery stock traded down $0.13 during trading on Friday, reaching $7.97. 36,401,826 shares of the company's stock were exchanged, compared to its average volume of 32,455,414. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The firm has a market cap of $19.56 billion, a price-to-earnings ratio of -1.74, 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. The company's 50-day moving average is $10.21 and its two-hundred day moving average is $9.77.
Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The company had revenue of $10.03 billion during the quarter, compared to analysts' expectations of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. On average, analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently commented on WBD. Rosenblatt Securities reiterated a "neutral" rating and set a $13.00 price target on shares of Warner Bros. Discovery in a report on Friday, March 7th. Benchmark reiterated a "buy" rating and issued a $18.00 price target on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Barclays lowered their price objective on Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup increased their target price on Warner Bros. Discovery from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Warner Bros. Discovery currently has a consensus rating of "Moderate Buy" and an average target price of $11.71.
Read Our Latest Stock Report on Warner Bros. Discovery
About Warner Bros. Discovery
(
Free Report)
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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