Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 124.8% during the 4th quarter, HoldingsChannel reports. The fund owned 58,714 shares of the company’s stock after buying an additional 32,592 shares during the period. IFP Advisors Inc’s holdings in Warner Bros. Discovery were worth $624,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Warner Bros. Discovery by 4.1% during the third quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after purchasing an additional 5,898,611 shares during the period. Sessa Capital IM L.P. raised its holdings in shares of Warner Bros. Discovery by 24.7% during the third quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after purchasing an additional 5,625,545 shares during the period. Drexel Morgan & Co. raised its holdings in shares of Warner Bros. Discovery by 43.5% during the third quarter. Drexel Morgan & Co. now owns 6,600,463 shares of the company’s stock worth $54,454,000 after purchasing an additional 2,000,000 shares during the period. Coronation Fund Managers Ltd. raised its holdings in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company’s stock worth $59,660,000 after purchasing an additional 1,981,050 shares during the period. Finally, Private Management Group Inc. raised its holdings in shares of Warner Bros. Discovery by 37.7% during the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after purchasing an additional 1,886,868 shares during the period. 59.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $11.46 on Friday. Warner Bros. Discovery, Inc. has a twelve month low of $6.64 and a twelve month high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $10.32 and a 200-day moving average of $9.22. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of -2.50, a price-to-earnings-growth ratio of 8.64 and a beta of 1.49.

Warner Bros. Discovery (NASDAQ:WBD) last posted its quarterly earnings data 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). Warner Bros. Discovery had a negative net margin of 28.34% and a negative return on equity of 27.56%. The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WBD. Wolfe Research upgraded shares of Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Moffett Nathanson upgraded shares of Warner Bros. Discovery from a “neutral” rating to a “buy” rating and upped their price target for the stock from $9.00 to $13.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Bank of America restated a “buy” rating and set a $14.00 price target on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. Finally, KeyCorp upped 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. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.75.

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.