Brighton Jones LLC Makes New Investment in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Brighton Jones LLC bought a new stake in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,227 shares of the company’s stock, valued at approximately $139,000.

Other large investors have also recently made changes to their positions in the company. Dakota Wealth Management increased its position in Warner Bros. Discovery by 22.4% during the 3rd quarter. Dakota Wealth Management now owns 13,498 shares of the company’s stock valued at $147,000 after buying an additional 2,471 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Warner Bros. Discovery by 6.9% in the third quarter. Stratos Wealth Partners LTD. now owns 39,934 shares of the company’s stock worth $434,000 after acquiring an additional 2,562 shares during the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of Warner Bros. Discovery during the third quarter valued at $109,000. Brown Advisory Inc. raised its position in shares of Warner Bros. Discovery by 10.3% in the 3rd quarter. Brown Advisory Inc. now owns 54,593 shares of the company’s stock worth $593,000 after purchasing an additional 5,107 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in Warner Bros. Discovery by 35.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 15,028 shares of the company’s stock worth $163,000 after purchasing an additional 3,900 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WBD has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Warner Bros. Discovery from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, February 26th. Rosenblatt Securities upgraded shares of Warner Bros. Discovery from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $7.00 to $10.00 in a report on Thursday, March 21st. Redburn Atlantic downgraded Warner Bros. Discovery from a “buy” rating to a “neutral” rating and set a $11.00 target price on the stock. in a research note on Thursday, January 11th. Barclays reduced their target price on Warner Bros. Discovery from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, February 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $20.00 price target on shares of Warner Bros. Discovery in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and an average target price of $13.83.

Warner Bros. Discovery Trading Up 0.3 %

NASDAQ WBD opened at $7.97 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $8.45 and a 200-day moving average price of $9.87. Warner Bros. Discovery, Inc. has a 52 week low of $7.34 and a 52 week high of $14.76.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Warner Bros. Discovery had a negative return on equity of 3.48% and a negative net margin of 7.57%. The business had revenue of $10.28 billion during the quarter, compared to the consensus estimate of $10.34 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. As a group, analysts predict that Warner Bros. Discovery, Inc. will post -0.35 EPS for the current year.

About Warner Bros. Discovery

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.