Douglas Lane & Associates LLC Grows Stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Douglas Lane & Associates LLC grew its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,726,841 shares of the company’s stock after purchasing an additional 211,272 shares during the period. Douglas Lane & Associates LLC owned approximately 0.07% of Warner Bros. Discovery worth $18,253,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in Warner Bros. Discovery by 3.1% in the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Hauser Brothers GmbH raised its position in shares of Warner Bros. Discovery by 56.1% in the 3rd quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock valued at $10,106,000 after purchasing an additional 440,000 shares during the last quarter. Private Management Group Inc. boosted its stake in Warner Bros. Discovery by 37.7% in the 3rd quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock worth $56,811,000 after purchasing an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Warner Bros. Discovery during the 3rd quarter worth approximately $1,474,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Warner Bros. Discovery in the third quarter worth $588,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Warner Bros. Discovery Stock Performance

WBD traded down $0.39 during trading on Wednesday, reaching $10.12. The company’s stock had a trading volume of 23,096,331 shares, compared to its average volume of 25,823,717. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. Warner Bros. Discovery, Inc. has a 52-week low of $6.64 and a 52-week high of $12.70. The company has a market capitalization of $24.83 billion, a price-to-earnings ratio of -2.21 and a beta of 1.50. The company’s fifty day moving average price is $10.15 and its 200-day moving average price is $8.60.

Warner Bros. Discovery (NASDAQ:WBD) last posted its earnings results on Thursday, November 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.79 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. Warner Bros. Discovery’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, equities analysts forecast that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Rosenblatt Securities lifted their price target on Warner Bros. Discovery from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Raymond James lifted their target price on shares of Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. KeyCorp raised their price target on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on Warner Bros. Discovery from $9.50 to $10.75 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Macquarie upped their price target on Warner Bros. Discovery from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Warner Bros. Discovery presently has a consensus rating of “Hold” and a consensus target price of $11.44.

Insiders Place Their Bets

In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares in the company, valued at approximately $7,407,558.12. The trade was a 22.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Company 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.