SRS Capital Advisors Inc. Grows Position in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

SRS Capital Advisors Inc. lifted its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 313.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,559 shares of the company’s stock after buying an additional 1,940 shares during the period. SRS Capital Advisors Inc.’s holdings in Warner Bros. Discovery were worth $27,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Asset Management One Co. Ltd. boosted its position in Warner Bros. Discovery by 5.5% in the third quarter. Asset Management One Co. Ltd. now owns 919,611 shares of the company’s stock worth $7,587,000 after purchasing an additional 47,542 shares during the last quarter. M&G PLC boosted its position in Warner Bros. Discovery by 84.5% in the third quarter. M&G PLC now owns 1,132,579 shares of the company’s stock worth $9,061,000 after purchasing an additional 518,750 shares during the last quarter. Principal Financial Group Inc. boosted its position in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after purchasing an additional 78,653 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its position in Warner Bros. Discovery by 23.4% in the third quarter. Deseret Mutual Benefit Administrators now owns 8,859 shares of the company’s stock worth $73,000 after purchasing an additional 1,682 shares during the last quarter. Finally, Pegasus Partners Ltd. boosted its position in Warner Bros. Discovery by 80.5% in the third quarter. Pegasus Partners Ltd. now owns 47,095 shares of the company’s stock worth $389,000 after purchasing an additional 21,000 shares during the last quarter. 59.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WBD. KeyCorp raised their target price on Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Moffett Nathanson raised Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $9.00 to $13.00 in a research report on Tuesday, January 21st. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Citigroup lifted their price objective on Warner Bros. Discovery from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Warner Bros. Discovery from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average target price of $11.91.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $11.07 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. Warner Bros. Discovery, Inc. has a 1 year low of $6.64 and a 1 year high of $12.70. The stock’s 50 day simple moving average is $10.38 and its two-hundred day simple moving average is $9.36. The company has a market cap of $27.16 billion, a price-to-earnings ratio of -2.42, a PEG ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.20) earnings per share (EPS) 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 firm had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.16 billion. As a group, equities analysts anticipate that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $12.36, for a total transaction of $2,094,228.96. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Piazza Samuel A. Jr. Di bought 17,346 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the transaction, the director now owns 159,932 shares in the company, valued at approximately $1,824,824.12. The trade was a 12.17 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

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.