HighTower Advisors LLC Has $2.88 Million Stock Position in Warner Bros. Discovery, Inc. $WBD

HighTower Advisors LLC raised its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 16.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 268,675 shares of the company’s stock after acquiring an additional 37,481 shares during the quarter. HighTower Advisors LLC’s holdings in Warner Bros. Discovery were worth $2,883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WBD. Brighton Jones LLC increased its position in Warner Bros. Discovery by 304.9% in the 4th quarter. Brighton Jones LLC now owns 68,950 shares of the company’s stock valued at $729,000 after acquiring an additional 51,920 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Warner Bros. Discovery by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,844,495 shares of the company’s stock valued at $82,906,000 after purchasing an additional 65,939 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Warner Bros. Discovery by 11.6% in the 4th quarter. Hsbc Holdings PLC now owns 4,783,248 shares of the company’s stock valued at $50,789,000 after purchasing an additional 497,361 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Warner Bros. Discovery by 3,195.0% in the 4th quarter. Pinebridge Investments L.P. now owns 703,902 shares of the company’s stock valued at $7,440,000 after purchasing an additional 682,539 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Warner Bros. Discovery by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,184,016 shares of the company’s stock valued at $33,656,000 after purchasing an additional 85,825 shares during the last quarter. 59.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Warner Bros. Discovery

In other Warner Bros. Discovery news, Director Anton J. Levy acquired 250,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $10.90 per share, with a total value of $2,725,000.00. Following the completion of the purchase, the director owned 874,000 shares of the company’s stock, valued at approximately $9,526,600. This represents a 40.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WBD has been the topic of a number of analyst reports. Bank of America upped their price objective on shares of Warner Bros. Discovery from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, July 1st. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Barclays upped their price objective on shares of Warner Bros. Discovery from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 9th. Huber Research raised shares of Warner Bros. Discovery from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, June 9th. Finally, Argus raised shares of Warner Bros. Discovery to a “hold” rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Warner Bros. Discovery has a consensus rating of “Moderate Buy” and a consensus price target of $13.14.

Warner Bros. Discovery Stock Up 4.0%

Shares of NASDAQ WBD opened at $12.05 on Friday. The firm has a market cap of $29.83 billion, a PE ratio of 40.17, a P/E/G ratio of 1.54 and a beta of 1.57. Warner Bros. Discovery, Inc. has a 12-month low of $6.78 and a 12-month high of $13.86. The company’s fifty day simple moving average is $11.85 and its 200 day simple moving average is $10.42. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.79. The business had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.73 billion. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. Warner Bros. Discovery’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($4.07) earnings per share. As a group, sell-side analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 earnings per share for the current fiscal 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.