Pacer Advisors Inc. Has $3.85 Million Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Pacer Advisors Inc. boosted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 27.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 363,983 shares of the company’s stock after acquiring an additional 78,123 shares during the period. Pacer Advisors Inc.’s holdings in Warner Bros. Discovery were worth $3,847,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Warner Bros. Discovery during the fourth quarter worth $33,000. Future Financial Wealth Managment LLC bought a new position in Warner Bros. Discovery during the third quarter worth about $41,000. Larson Financial Group LLC grew its position in shares of Warner Bros. Discovery by 54.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,998 shares of the company’s stock worth $41,000 after buying an additional 1,754 shares during the period. Quarry LP increased its stake in shares of Warner Bros. Discovery by 2,185.1% in the 2nd quarter. Quarry LP now owns 6,307 shares of the company’s stock valued at $47,000 after acquiring an additional 6,031 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its position in shares of Warner Bros. Discovery by 448.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 4,578 shares of the company’s stock valued at $48,000 after acquiring an additional 3,743 shares during the period. Institutional investors own 59.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WBD. KeyCorp lifted their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research note on Monday, November 11th. Bank of America reaffirmed a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Barclays increased their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Thursday, October 10th. Ten investment 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.com, Warner Bros. Discovery currently has an average rating of “Moderate Buy” and a consensus target price of $11.76.

Warner Bros. Discovery Price Performance

NASDAQ:WBD opened at $10.62 on Friday. 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 quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50-day simple moving average is $10.47 and its 200 day simple moving average is $8.90. The firm has a market cap of $26.05 billion, a price-to-earnings ratio of -2.32, a P/E/G ratio of 6.12 and a beta of 1.50.

Warner Bros. Discovery (NASDAQ:WBD) last announced its earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.79 billion. Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts predict that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Savalle Sims sold 169,436 shares of the stock in a transaction that occurred 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 sale, the insider now owns 599,317 shares in the company, valued at approximately $7,407,558.12. This trade represents a 22.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

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.