Tower Research Capital LLC TRC Increases Stock Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Tower Research Capital LLC TRC grew its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 60.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,905 shares of the company's stock after buying an additional 99,215 shares during the period. Tower Research Capital LLC TRC's holdings in Warner Bros. Discovery were worth $2,779,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Warner Bros. Discovery by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 252,650,791 shares of the company's stock worth $2,670,519,000 after buying an additional 1,658,415 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Warner Bros. Discovery by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 57,441,931 shares of the company's stock worth $605,633,000 after acquiring an additional 1,991,441 shares during the last quarter. Norges Bank bought a new stake in shares of Warner Bros. Discovery in the 4th quarter worth approximately $362,210,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Bros. Discovery by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,547,162 shares of the company's stock valued at $174,904,000 after purchasing an additional 861,656 shares in the last quarter. Finally, Contrarius Group Holdings Ltd bought a new position in shares of Warner Bros. Discovery during the 4th quarter valued at $168,930,000. Institutional investors own 59.95% of the company's stock.

Insider Buying and Selling

In other Warner Bros. Discovery news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Stock Up 2.0 %

Shares of NASDAQ WBD traded up $0.17 on Thursday, reaching $8.50. 30,060,822 shares of the company's stock traded hands, compared to its average volume of 32,946,861. The business's 50 day simple moving average is $9.85 and its two-hundred day simple moving average is $9.75. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market cap of $20.87 billion, a price-to-earnings ratio of -1.86, a price-to-earnings-growth ratio of 8.64 and a beta of 1.43. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last posted its quarterly earnings data 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 net margin of 28.34% and a negative return on equity of 27.56%. The company had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities research analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WBD shares. Moffett Nathanson upgraded Warner Bros. Discovery from a "neutral" rating to a "buy" rating and raised their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. Citigroup increased their price target on shares of Warner Bros. Discovery from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Needham & Company LLC restated a "hold" rating on shares of Warner Bros. Discovery in a research report on Friday, February 28th. Barclays dropped their target price on shares of Warner Bros. Discovery from $12.00 to $7.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on Warner Bros. Discovery from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.01.

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.