Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its position in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 0.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 955,026 shares of the company’s stock after buying an additional 6,755 shares during the period. LPL Financial LLC’s holdings in Warner Bros. Discovery were worth $14,421,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WBD. Heritage Wealth Management LLC lifted its position in shares of Warner Bros. Discovery by 170.7% during the 4th quarter. Heritage Wealth Management LLC now owns 2,634 shares of the company’s stock valued at $25,000 after buying an additional 1,661 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Warner Bros. Discovery by 274.6% during the first quarter. Manchester Capital Management LLC now owns 1,817 shares of the company’s stock valued at $27,000 after purchasing an additional 1,332 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Warner Bros. Discovery during the fourth quarter worth about $32,000. Oakworth Capital Inc. raised its position in shares of Warner Bros. Discovery by 378.9% during the 1st quarter. Oakworth Capital Inc. now owns 2,107 shares of the company’s stock worth $32,000 after purchasing an additional 1,667 shares during the last quarter. Finally, CVA Family Office LLC lifted its stake in Warner Bros. Discovery by 55.4% in the 4th quarter. CVA Family Office LLC now owns 3,449 shares of the company’s stock valued at $33,000 after buying an additional 1,230 shares in the last quarter. Institutional investors and hedge funds own 56.08% of the company’s stock.

Warner Bros. Discovery Stock Performance

NASDAQ:WBD opened at $12.27 on Friday. The stock has a market capitalization of $29.91 billion, a P/E ratio of -4.45 and a beta of 1.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Warner Bros. Discovery, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $16.34. The company has a 50 day moving average price of $12.88 and a 200 day moving average price of $13.50.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.12). Warner Bros. Discovery had a positive return on equity of 1.27% and a negative net margin of 16.04%. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.01 EPS for the current year.

Insider Activity

In other Warner Bros. Discovery news, insider Gerhard Zeiler acquired 38,000 shares of the stock in a transaction dated Monday, August 7th. The stock was acquired at an average price of $14.09 per share, with a total value of $535,420.00. Following the completion of the purchase, the insider now owns 329,032 shares in the company, valued at approximately $4,636,060.88. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Evercore ISI reduced their target price on Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $15.00 target price on shares of Warner Bros. Discovery in a research report on Friday, August 4th. Barrington Research upgraded shares of Warner Bros. Discovery from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Tuesday, May 16th. Barclays increased their price objective on shares of Warner Bros. Discovery from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $26.00 price objective on shares of Warner Bros. Discovery in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.72.

Warner Bros. Discovery Profile

Warner Bros. Discovery, Inc, operates 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 lienses television programs to third parties and networks 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.