HB Wealth Management LLC Boosts Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

HB Wealth Management LLC lifted its position in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 240,550 shares of the company’s stock after purchasing an additional 12,154 shares during the period. HB Wealth Management LLC’s holdings in Warner Bros. Discovery were worth $2,543,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company’s stock worth $1,248,109,000 after acquiring an additional 5,898,611 shares in the last quarter. Sessa Capital IM L.P. lifted its position in Warner Bros. Discovery by 24.7% during the 3rd quarter. Sessa Capital IM L.P. now owns 28,410,428 shares of the company’s stock worth $234,386,000 after acquiring an additional 5,625,545 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in Warner Bros. Discovery by 2.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 21,396,719 shares of the company’s stock worth $176,523,000 after acquiring an additional 541,192 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Warner Bros. Discovery by 1.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 20,889,437 shares of the company’s stock worth $172,338,000 after acquiring an additional 329,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Warner Bros. Discovery by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 15,685,506 shares of the company’s stock worth $129,405,000 after acquiring an additional 687,612 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Insider Buying and Selling

In other news, insider Savalle Sims sold 169,436 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now owns 599,317 shares of the company’s stock, valued at approximately $7,407,558.12. This represents a 22.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WBD. The Goldman Sachs Group boosted their price target on Warner Bros. Discovery from $9.50 to $10.75 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Raymond James upped their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barrington Research reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Warner Bros. Discovery in a research report on Friday, December 13th. Guggenheim upped their target price on Warner Bros. Discovery from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Barclays upped their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.56.

Warner Bros. Discovery Price Performance

Shares of WBD opened at $9.52 on Monday. The company has a market cap of $23.35 billion, a P/E ratio of -2.08, a PEG ratio of 9.12 and a beta of 1.50. The stock has a fifty day moving average price of $10.37 and a 200 day moving average price of $8.74. 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 12 month low of $6.64 and a 12 month high of $12.70.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. On average, research analysts forecast that Warner Bros. Discovery, Inc. will post -4.36 earnings per share for the current year.

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.