Geode Capital Management LLC grew its holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 1.6% during the 4th quarter, HoldingsChannel reports. The firm owned 66,597,575 shares of the company’s stock after purchasing an additional 1,028,346 shares during the quarter. Geode Capital Management LLC’s holdings in Warner Bros. Discovery were worth $1,912,634,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. JFS Wealth Advisors LLC increased its stake in shares of Warner Bros. Discovery by 12.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 3,425 shares of the company’s stock valued at $99,000 after purchasing an additional 378 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Warner Bros. Discovery by 20.2% in the 4th quarter. Salomon & Ludwin LLC now owns 2,494 shares of the company’s stock valued at $71,000 after purchasing an additional 419 shares during the last quarter. CYBER HORNET ETFs LLC increased its stake in shares of Warner Bros. Discovery by 7.1% in the 4th quarter. CYBER HORNET ETFs LLC now owns 6,396 shares of the company’s stock valued at $184,000 after purchasing an additional 425 shares during the last quarter. Optas LLC increased its stake in shares of Warner Bros. Discovery by 3.0% in the 4th quarter. Optas LLC now owns 15,120 shares of the company’s stock valued at $436,000 after purchasing an additional 435 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its stake in shares of Warner Bros. Discovery by 7.7% in the 4th quarter. Armstrong Advisory Group Inc. now owns 6,095 shares of the company’s stock valued at $176,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.
Analyst Ratings Changes
WBD has been the topic of a number of research reports. Huber Research lowered Warner Bros. Discovery from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, February 27th. Wells Fargo & Company initiated coverage on Warner Bros. Discovery in a research report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price objective on the stock. Benchmark restated a “hold” rating on shares of Warner Bros. Discovery in a research report on Friday, February 27th. TD Cowen boosted their price objective on Warner Bros. Discovery from $22.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, February 27th. Finally, KeyCorp restated an “overweight” rating on shares of Warner Bros. Discovery in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus price target of $27.04.
Warner Bros. Discovery Trading Down 0.4%
NASDAQ WBD opened at $27.04 on Friday. The business’s 50-day moving average price is $27.23 and its two-hundred day moving average price is $27.26. Warner Bros. Discovery, Inc. has a 12 month low of $9.11 and a 12 month high of $30.00. The firm has a market capitalization of $67.79 billion, a PE ratio of -38.63 and a beta of 1.57. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter last year, the firm posted ($0.18) EPS. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts expect that Warner Bros. Discovery, Inc. will post -0.71 EPS for the current year.
Insider Transactions at Warner Bros. Discovery
In other Warner Bros. Discovery news, Director Fazal F. Merchant sold 35,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $27.48, for a total value of $961,800.00. Following the sale, the director owned 95,539 shares in the company, valued at approximately $2,625,411.72. The trade was a 26.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bruce Campbell sold 41,784 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.82, for a total value of $1,162,430.88. Following the completion of the sale, the insider owned 604,666 shares in the company, valued at $16,821,808.12. This trade represents a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 8,206,827 shares of company stock worth $230,674,025. 1.90% of the stock is currently owned by insiders.
About Warner Bros. Discovery
Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.
The company’s core activities include film and television production and distribution through units such as Warner Bros.
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