Ameriprise Financial Inc. Boosts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Ameriprise Financial Inc. raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 62.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,264,565 shares of the company’s stock after purchasing an additional 3,179,941 shares during the period. Ameriprise Financial Inc. owned 0.34% of Warner Bros. Discovery worth $124,802,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Aspire Private Capital LLC grew its stake in Warner Bros. Discovery by 33.2% in the 4th quarter. Aspire Private Capital LLC now owns 2,823 shares of the company’s stock worth $26,762,040,000 after buying an additional 704 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Warner Bros. Discovery by 1.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 50,356 shares of the company’s stock worth $760,000 after acquiring an additional 770 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Warner Bros. Discovery by 0.3% in the 1st quarter. New York Life Investment Management LLC now owns 314,279 shares of the company’s stock worth $4,746,000 after acquiring an additional 799 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Warner Bros. Discovery by 7.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 11,371 shares of the company’s stock worth $172,000 after acquiring an additional 804 shares during the last quarter. Finally, MV Capital Management Inc. lifted its holdings in shares of Warner Bros. Discovery by 57.0% in the 1st quarter. MV Capital Management Inc. now owns 2,421 shares of the company’s stock worth $37,000 after acquiring an additional 879 shares during the last quarter. Hedge funds and other institutional investors own 58.26% of the company’s stock.

Warner Bros. Discovery Stock Performance

Shares of WBD opened at $11.84 on Monday. The company has a 50-day simple moving average of $12.71 and a 200-day simple moving average of $13.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $28.86 billion, a PE ratio of -4.29 and a beta of 1.51. Warner Bros. Discovery, Inc. has a 52-week low of $8.82 and a 52-week high of $16.34.

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

Analyst Upgrades and Downgrades

WBD has been the subject of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price objective on shares of Warner Bros. Discovery in a report on Friday, August 4th. Evercore ISI dropped their target price on shares of Warner Bros. Discovery from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, July 24th. Truist Financial reiterated a “buy” rating and set a $17.00 target price on shares of Warner Bros. Discovery in a report on Wednesday, September 6th. Barclays increased their target price on shares of Warner Bros. Discovery from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 8th. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $10.00 target price on shares of Warner Bros. Discovery in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery presently has an average rating of “Moderate Buy” and a consensus target price of $20.66.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, insider Gerhard Zeiler acquired 38,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $14.09 per share, with a total value of $535,420.00. Following the completion of the acquisition, the insider now directly owns 329,032 shares in the company, valued at approximately $4,636,060.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Warner Bros. Discovery Company 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.